The subject property is located within the Lloyd District area, which has seen an explosion of new apartment, hotel and office developments. It is also situated within walking distance of many different amenities in the NE Broadway corridor.

You will find an array of locally-owned and unique small businesses up and down NE Broadway St including specialty shops, restaurants, coffee shops and bars, galleries, plus services of all types.

Description

The property consists of three buildings on one tax lot totaling 4,750 SF (plus an estimated 800 SF basement) on a 4,500 SF lot zoned CM2 (Commercial Mixed Use 2 City of Portland). The CM2 zoning allows a variety of retail and office uses along with vehicle repair, schools, daycare and more. From a redevelopment perspective, the zoning allows for a 45' height limit and 2.5 to 1 FAR.

Highlights

All tenants are month-to-month. Monthly apartments rents range from $500 for the 3 studios, $700 for the one bedroom in the apartment building and $725 a month for the one bedroom above the wine store. All tenants pay their own gas bill and the two commercial spaces and the apartment unit above the wine store pay for their own electricity.

Front retail tenant is vacating summer of 2020. Back retail tenant is month-to-month paying $500/mo.

All of the apartments are heated by natural gas heaters installed in 1995. Apartment units have been refurbished upon each turnover.

Electrical breaker panels were updated in 1997.

Roof on the two story apartment building had a complete tear-off and new roof installed in 2011. Roof on the small mixed use building was just re-coated. Roof on the front retail building was installed in 1991 and has since been maintained.