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Michael Perkins

Real Broker

michael@openhousepdx.com +1(503) 800-7878

Listed by Premiere Property Group, LLC

$ 584,900

Est. payment -/mo

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Price Dropped by $5K

4836 N ALBINA AVE Portland, OR 97217

3 Beds

1 Bath

2,009 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,009 sqft

Price per Sqft $291

Subdivision Mississippi Ave

MLS Listing ID 309804710

Style Bungalow

Bedrooms 3

Full Baths 1

HOA Y/N No

Year Built 1908

Annual Tax Amount $2,336

Tax Year 2025

Lot Size 5,227 Sqft

Property Sub-Type Single Family Residence

Property Description

Positioned on a prominent 5,000 sq ft corner lot at 4836 N Albina Ave, this prime RM2-zoned property offers an unparalleled combination of immediate cash flow, flexible land-banking, and high-density development potential. Featuring an advantageous 3:1 Floor Area Ratio (FAR) that supports up to 15,000 sq ft of future allowable buildable area, the site represents a rare urban infill opportunity in the heart of North Portland's highly sought-after Mississippi and Williams corridors. The property currently generates over $2,000 per month in holding revenue from a reliable month-to-month occupant, allowing an investor or builder to enjoy consistent passive income while securing permits and finalizing project designs. The existing structure is a well-maintained, move-in-ready home complete with a multi-level floor plan, an updated kitchen with granite counters and stainless steel appliances, classic millwork, and rare off-street parking. Whether your strategy is to hold and collect cash flow, execute an immediate multi-unit development, or capitalize on Portland's growing demand for urban density, this property delivers unbeatable positioning and maximum future upside.

Location

State OR

County Multnomah

Area _141

Zoning RM2

Rooms

Basement Full Basement, Unfinished

Interior

Heating Forced Air

Cooling None

Appliance Builtin Range, Cooktop, Dishwasher, E N E R G Y S T A R Qualified Appliances, Free Standing Refrigerator, Granite, Solid Surface Countertop, Stainless Steel Appliance

Exterior

Roof Type Composition

Garage No

Building

Lot Description Corner Lot

Story 3

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 3

Schools

Elementary Schools Boise-Eliot

Middle Schools Harriet Tubman

High Schools Jefferson

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA, VALoan

Listing Terms Cash, Conventional, FHA, VALoan

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Regional Multiple Listing Service (RMLS)

Michael Perkins

Agent | License ID: 201246215

+1(503) 800-7878

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Michael Perkins

4836 N ALBINA AVE Portland, OR 97217

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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4836 N ALBINA AVE