31 SE 83rd Ave, Portland, OR 97216

View the full listing at: https://www.marcusmillichap.com/properties/201973/montavilla-land

The Montavilla Land offering represents a unique opportunity to acquire a planned multifamily development site in Portland’s desirable Montavilla neighborhood. Located at 31 & 33 SE 83rd Avenue, the property has been designed for a 30-unit apartment development, consisting of efficient one- and two-bedroom units that align with Portland’s growing renter demographic.

Substantial predevelopment work has already been completed, including a full set of architectural plans, survey, and mechanical engineering, allowing a future developer to significantly reduce entitlement timelines and soft costs. This preparation provides a clear path toward development in a submarket that continues to experience strong housing demand and limited new supply.

The property’s location just off E Burnside Street, one of Portland’s primary east-west corridors, offers residents convenient access to neighborhood retail, restaurants, grocery stores, and public transit. The site is located near the heart of the Montavilla neighborhood’s vibrant commercial district, while also providing easy connectivity to downtown Portland, Portland International Airport, and major employment centers throughout the metro area.

Further enhancing the investment opportunity, the property includes assumable financing, consisting of an approximately $520,000 note that may be assumed for up to three years at 5% interest-only. This structure provides developers with near-term financing flexibility while completing entitlement work and preparing for construction.

Additionally, the property may qualify for Portland’s temporary System Development Charge (SDC) exemption program, currently scheduled to run from August 15, 2025 through September 30, 2028, which exempts most new housing units from SDC fees and may result in significant development cost savings. Buyers should verify eligibility with the City of Portland.