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Listed by Works Real Estate • jordan@pdxworksrealestate.com
$799,999
Est. payment /mo
2,004 SqFt
New
2371 SE 51ST AVE Portland, OR 97215
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,004 sqft
Price per Sqft $399
Subdivision Treet 51St Add
MLS Listing ID 209170910
Year Built 1926
Annual Tax Amount $5,734
Tax Year 2025
Lot Size 6,751 Sqft
Property Description
Exceptional Richmond District Opportunity | Remodeled Home + Future Development PotentialRare opportunity to acquire a beautifully remodeled home with professionally prepared cottage cluster plans illustrating the potential for additional future development. Prime Richmond location with convenient access to neighborhood restaurants, parks, shopping, transit, and some of Portland's most desirable amenities.The existing residence has been extensively renovated and offers 3 bedrooms, 3 full bathrooms, plus a fourth non-conforming bedroom in the finished basement. Blending original character with modern updates, the home features flexible living spaces and income-producing potential. The lower level includes a separate exterior entrance and kitchenette, creating opportunities for multigenerational living, guest accommodations, or additional rental income. *Remodel on existing home will be finished on 7/1/26 with photos to follow. In addition to the existing home, the seller has invested in professionally prepared plans exploring multiple development scenarios for the site.Concept Option #1 – Two Detached Cottage With BasementApproximately 1,285 SF each3 bedrooms + office3 full bathroomsUpper-level primary suite plus additional bedroom and bathroomMain-level office/flex space and full bathroomFinished lower level with kitchenette, living area, bedroom, and bathroomPotential flexibility for separate upper and lower-level living arrangements (buyer to verify)Concept Option #2 – Alternative Cottage ConfigurationApproximately 2 bedrooms and 2.5 bathrooms per unitDual upstairs en-suite bedroomsFlexible main-level layout optionsPotential office/flex spaceAdditional floor plan variations available for reviewWhether your goal is to occupy the primary residence, generate rental income, pursue future development, or create a multigenerational compound, this property offers a unique combination of immediate usability and long-term upside. Buyer to verify development oppurtunities.
Location
State OR
County Multnomah
Area _143
Zoning RM -1
Rooms
Basement Finished
Interior
Heating Forced Air
Exterior
Garage Spaces 1.0
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Atkinson
Middle Schools Harrison Park
High Schools Franklin
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
NEARBY SCHOOL & BUSINESS