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NE 99th Ave
Portland, OR 97220

Gateway Blocks · Land For Sale · 5.43 AC

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Investment Highlights

Located in the up-and-coming Gateway neighborhood
Convenient access to I-205 and I-84

Easy access to the Gateway Mass Transit Station, bus and light rain stops

Executive Summary

Owner is an experienced apartment builder and licensed contractor who has built over 1,000 apartment units in Oregon and Washington. Owner will consider build-to-suit multifamily sale
Owner will consider joint venture with nonprofit for subsidized housing
Owner will consider land lease or outright sale of land in whole or part

PROPERTY FACTS

Sale Type	Investment	Proposed Use	Multifamily Apartment Units
No. Lots	1	Total Lot Size	5.43 AC
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Commercial

Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Multifamily Apartment Units
Total Lot Size	5.43 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot

Lot Size	5.43 AC

Lot Size	5.43 AC

Description

This offering is made up of 27 individual contiguous tax parcels comprising two full city blocks and several half blocks. Floor area ratios is six with bonus potential. The height limit is 120 feet. Located in the emerging Gateway neighborhood, this property has frontage on 97th Avenue, 99th Avenue, 100th Avenue, Couch Street and the soon-to- be-developed NE Davis Street. Construction will commence in Fall 2024 on NE Davis from 99th to 97th and 97th Avenue to E Burnside, paving the way for developers to erect 10 to 14 story buildings in the upcoming Gateway neighborhood. Phase II of the Gateway Street plan will follow upon the completion of Phase I. Construction will also include street, curb, sidewalks on both sides of street, landscaping, grass and trees.

PROPERTY TAXES

Parcel Numbers	Multiple R206562 R206609 R263232 R206575 R206611 R206598	Improvements Assessment	$0 CAD
Land Assessment	$762,363 CAD	Total Assessment	$821,148 CAD

PROPERTY TAXES

Parcel Numbers

Multiple

R206562
R206609
R263232
R206575
R206611
R206598

Land Assessment

$762,363 CAD

Improvements Assessment

$0 CAD

Total Assessment

$821,148 CAD

zoning

Zoning Code	RX (Central Residential)
RX (Central Residential)

Listing ID: 33475893
Date on Market: 2024-10-10
Last Updated:
Address: NE 99th Ave, Portland, OR 97220

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