SE Steele Street Multifamily Development Land

Investment Overview

The subject property consists of 4 tax parcels totaling approximately 2.0428 acres (88,986 SF), with no current entitlements in-place. The subject property offers investors/developers an opportunity to acquire well located development parcels with flat topography, utilities at the street and potential to build approximately 90 units with a mix of multifamily and single family residential. “Powellhurst-Gilbert is located in Southeast Portland and is one of the city’s largest neighborhoods by both area and population. Today, Powellhurst- Gilbert is characterized by a blend of older homes, newer developments, and large sections of green space, reflecting both its agricultural past and ongoing growth. • Continued population growth expected, driven by affordability compared to central Portland neighborhoods • Ongoing investment in infrastructure and public transit, improving access for residents and businesses • Increasing interest from small businesses and retail due to rising residential density • Potential for growth in health care, social services, and multicultural retail, reflecting the area’s diverse population

Investment Highlights

• • Approved plans for 91 units + 44 parking spaces
• • Sewer laterals in-place
• • 2” water service tied to townhomes
• • Power feeders run to transformers
• • Previous retention pond approval (buyer to verify)
• • DEQ NSA completed
• • Construction monitoring report completed by Carlsen Engineers
• • Geotech engineering work completed (report available)
• • Phase I and ALTA survey available