REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by RE/MAX Equity Group • kevin@realtorkevin.com
$ 699,000
Est. payment /mo
New
5949 N ALBINA AVE Portland, OR 97217
1,632 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,632 sqft
Price per Sqft $428
MLS Listing ID 503257729
Year Built 1908
Annual Tax Amount $1,503
Tax Year 2025
Lot Size 5,227 Sqft
Property Sub-Type Commercial
Property Description
Positioned at the prominent corner of N Albina Avenue and N Ainsworth Street, directly across from Peninsula Park, this versatile N Portland property presents a compelling blend of established income and future development potential. The offering includes a commercial building attached to a single-family residence, creating a unique opportunity for an owner, investor, or developer seeking multiple uses within one property.The commercial and residential components feature a shared but divided basement, while separate utilities provide functional independence between the spaces. Both current tenants are on a month-to-month basis, offering immediate rental income while allowing a future owner flexibility to evaluate and pursue the property's long-term potential.The lot also offers open space that may provide an opportunity for an ADU, tiny house, or additional development, subject to applicable requirements and approvals. The property is zoned RM2, a designation that, according to the City of Portland zoning information, allows for significant development potential. Buyers are encouraged to independently verify zoning, permitted uses, development opportunities, dimensional requirements, and all applicable regulations with the City of Portland.Location adds another important dimension to the opportunity. Situated just a few blocks from I-5, with convenient access to nearby transit and directly across from the expansive green space of Peninsula Park, the property benefits from strong connectivity and a highly visible, established neighborhood setting.Whether the strategy is to continue generating income, occupy one portion, or work with the City toward future redevelopment, this property offers flexibility rarely found in a single acquisition. With separate utilities, two existing income-producing uses, month-to-month tenancy, additional lot area, and RM2 zoning, it is a distinctive opportunity to secure a property with both current utility and meaningful upside.
Location
State OR
County Multnomah
Area _141
Zoning RM2
Interior
Heating Mini Split
Cooling Mini Split
Equipment Fixtures
Exterior
Roof Type Composition,Flat
Garage No
Building
Story 1
Sewer Public Sewer
Water Public Water
Level or Stories 1
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://media.studio19seattle.com/sites/raojngjd/unbranded
