Property Description

Development Opportunity – 1.37 Acres MR-Zoned Land in Gladstone.Two parcels totaling 1.37 acres (59,677 SF) of mostly flat, MR-zoned (Multi-Family Residential) land in Gladstone's Old Town neighborhood, surrounded by established apartment communities and residential single family homes.The offering combines a 1.05-acre vacant parcel with an adjoining 0.32-acre lot improved by a 1,054 SF, 1-bed/1-bath residence built in 1938. Access could be obtained via 1080 Beatrice Ave frontage or via the 900 block of Risley Ave on the south side of the parcel.Gladstone's MR zoning supports multi-family development, with city water and sewer available in Beatrice Ave. The site sits in a high-demand rental submarket, with Clackamas County apartment vacancy among the tightest in the Portland metro area. A rare opportunity to assemble sizable, centrally located multi-family land in a market where comparable MR-zoned sites seldom trade.Highlights: • 1.37 acres (59,677 SF) total, zoned Gladstone-MR • Mostly flat, treed vacant parcel plus an existing residence • Surrounded by existing multi-family communities • City water and sewer in Beatrice Ave • Tight rental submarket, minimal new supply