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Listed by eXp Realty, LLC • 310-422-6044
$549,999
Est. payment /mo
7,405 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 274208765
HOA Y/N No
Annual Tax Amount $6,573
Tax Year 2024
Lot Size 7,405 Sqft
Property Sub-Type Multi Family
Property Description
A rare opportunity to preserve a piece of Portland history, 540 S Nevada St offers a 7,405 sq ft, nearly level lot in a prime Johns Landing location, zoned RM1, with a decommissioned pump house ready for its next chapter. The original pump and electrical equipment remains inside and conveys with the sale, and everything is disconnected and decommissioned. A buyer may preserve the structure and potentially repurpose it for commercial use, convert it to residential use and expand onto it, or tear it down and build new to maximize the building footprint and total unit count, subject to buyer due diligence. Based on Portland zoning, RM1 allows a minimum density of 1 dwelling per 2,500 sq ft of land, with no maximum density specified, offering flexibility for a multifamily vision on this 0.17 acre site. The seller may consider short-term owner-carried financing if needed, until construction financing funds or permits are fully approved. For a developer, a creative buyer, or someone who sees the potential in a truly unique structure, 540 S Nevada St offers history, flexibility, and a prime location in one rare offering.
Location
State OR
County Multnomah
Area _148
Zoning RM1
Exterior
Utilities Available ElectricityAvailable, NaturalGasAvailable, PublicSewer, WaterAvailable
Garage No
Schools
Elementary Schools Capitol Hill
Middle Schools Jackson
High Schools Ida B Wells
Others
Acceptable Financing Cash, Other, OwnerWillCarry
Listing Terms Cash, Other, OwnerWillCarry
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