Marquam Hill Plex Development Opportunity

Portland, OR

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Current rental income and development opportunity

The two land sites currently have six (6) existing, income-producing buildings. The buildings are a combination of a SFR home and five (5) multifamily plexes. A total of 15 plex units and one SFR home are professionally managed as a combined portfolio. Rents currently average $1,459 per unit. The buildings can produce approximately $280,000 in gross rents annually. Given housing demand on Marquam Hill and their proximity to the OHSU campus, the properties are consistently fully occupied. The buildings offer a developer a source of income up to construction at the site.

Key Facts

Land currently occupied by six buildings with 16 multifamily units

Located directly across the street from Oregon Health & Science University (OHSU)

OHSU is Portland's largest employer

Great for a long term holder or developer looking for a covered land play
Extremely rare opportunity to own some of the most desirable real estate in Portland

Zoned for multifamily 5-over-2 construction

Most of the surrounding area is zoned for low-density

High demand for housing on Marquam Hill due to the medical university and hospital staff required

Our Team

Brokerage team

Adam Smith