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Listed by Works Real Estate • jordan@pdxworksrealestate.com

$799,999

Est. payment - /mo

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2,004 SqFt

New

2371 SE 51ST AVE Portland, OR 97215

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Tommy Jedrzejczyk

tommy@tltre.com +1(503) 506-4646

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,004 sqft

Price per Sqft $399

Subdivision Treet 51St Add

MLS Listing ID 209170910

Year Built 1926

Annual Tax Amount $5,734

Tax Year 2025

Lot Size 6,751 Sqft

Property Description

Exceptional Richmond District Opportunity | Remodeled Home + Future Development PotentialRare opportunity to acquire a beautifully remodeled home with professionally prepared cottage cluster plans illustrating the potential for additional future development. Prime Richmond location with convenient access to neighborhood restaurants, parks, shopping, transit, and some of Portland's most desirable amenities.The existing residence has been extensively renovated and offers 3 bedrooms, 3 full bathrooms, plus a fourth non-conforming bedroom in the finished basement. Blending original character with modern updates, the home features flexible living spaces and income-producing potential. The lower level includes a separate exterior entrance and kitchenette, creating opportunities for multigenerational living, guest accommodations, or additional rental income. *Remodel on existing home will be finished on 7/1/26 with photos to follow. In addition to the existing home, the seller has invested in professionally prepared plans exploring multiple development scenarios for the site.Concept Option #1 – Two Detached Cottage With BasementApproximately 1,285 SF each3 bedrooms + office3 full bathroomsUpper-level primary suite plus additional bedroom and bathroomMain-level office/flex space and full bathroomFinished lower level with kitchenette, living area, bedroom, and bathroomPotential flexibility for separate upper and lower-level living arrangements (buyer to verify)Concept Option #2 – Alternative Cottage ConfigurationApproximately 2 bedrooms and 2.5 bathrooms per unitDual upstairs en-suite bedroomsFlexible main-level layout optionsPotential office/flex spaceAdditional floor plan variations available for reviewWhether your goal is to occupy the primary residence, generate rental income, pursue future development, or create a multigenerational compound, this property offers a unique combination of immediate usability and long-term upside. Buyer to verify development oppurtunities.

Location

State OR

County Multnomah

Area _143

Zoning RM -1

Rooms

Basement Finished

Interior

Heating Forced Air

Exterior

Garage Spaces 1.0

Roof Type Composition

Garage No

Building

Lot Description Level

Story 1

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 1

Schools

Elementary Schools Atkinson

Middle Schools Harrison Park

High Schools Franklin

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

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