$1,550,000

3124 SE 20th Ave presents an exceptional multifamily development site in the highly desirable Hosford-Abernethy neighborhood. This level 0.3-acre property offers developers a strategic opportunity to design a signature residential community, whether an elegant mid-rise apartment complex or a thoughtfully composed townhome enclave. Zoned RM2, the flat terrain allows for efficient vertical construction while accommodating up to 60-70 percent lot coverage and elevations up to four stories. The site's development metrics feature highly sought after floor area ratios, starting with a base of 1.5:1 and expanding up to a 3:1 ratio when incorporating Portland's affordable housing density bonuses. Positioned just off SE Powell Boulevard and adjacent to SE Division Street, future residents will enjoy immediate access to Portland's celebrated culinary scene, the Clinton Street theater district, Cleveland High School, and downtown transit routes. Existing onsite rental properties may provide interim income while finalizing architectural designs and city permitting. Buyers must independently verify all specific density allowances, structural parameters, and development regulations with the City of Portland.