Springville Development

The information contained in this marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial Integrity, NW and should not be made available to any other persons or entities without written consent of Commercial Integrity, NW. The information contained herein has been prepared to provide summary, unverified financial and physical information to prospective purchasers to establish a preliminary level of interest in the Subject Property. THE INFORMATION CONTAINED HEREIN SHALL NOT BE A SUBSTITUTE FOR

A THOROUGH DUE DILIGENCE INVESTIGATION.

Commercial Integrity, NW has not made any investigation, and makes no warranty or representation with respect to the income or expense for the Subject Property, the future projected financial performance of the Subject Property, the size or square footage and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plan or intentions to continue to occupy the Subject Property. The information contained herein has been obtained from sources we believe to be reliable; however, Commercial Integrity, NW has not verified and will not verify, any of the information contained herein, nor has Commercial Integrity, NW conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential purchasers must take appropriate measures to verify all of the information set forth herein.

THE SUBJECT PROPERTY IS LOCATED AT THE BORDER OF NORTH BETHANY GROWTH BOUNDARY EXPANSION

PER ACRE | 2.64 ACRES

13450 NW SPRINGVILLE LANE | PORTLAND, OR THE SYNOPSIS

$829,545

This parcel, spanning 2.64 acres, boasts a 3,200 sq ft, two-story, single-family residential structure erected in 1983.. Situated within Washington County, bordering the Urban Growth Boundary, the area is zoned R-6. It is one of the last remaining farmlands in Portland that upholds its picturesque setting and tranquil ambiance. The unspoiled hilly acreage is part of an active 60-acre farm, with native cedar and fir trees that exude a pastoral feel, with views of nearby farms and Forest Park, the property is in convenient proximity to downtown Portland. This property can retain its current singlefamily house, or be redeveloped into 13 to 16 housing units. The current single-family house is a concrete-based construction, implanted on the hillside, and is a testament to the 1980s' sustainable architecture, featuring a green roof. Property developers are encouraged to consider the potential of this promising land.

R-6 Zoning allows for the following uses:

Single Family: 16 units

Townhomes: 64 units

Cottage Homes: no maximum

HOME VALUES IN THIS AREA OF BETHANY AVERAGE $814.2K + 5 YR FORECASTED INCREASE TO $903.6K

NUMBERS

VALUATION

13450 NW SPRINGVILLE LANE | PORTLAND, OR THE

SALE OFFERING:

13450 NW SPRINGVILLE LANE, PORTLAND, OR

ACRES: 2.64 LAND SF: 114998.4

PRICE: $2.19M LAND PSF: $829,545

PARCEL(S): 1 ON MARKET

DESCRIPTION: DEVELOPMENT

Property Name

SPRINGVILLE LANE DEVELOPMENT

Current Market Value

$2.19M

Price Per Acre -Land Value

$829,545

$2.19M

$829,545

Per Acre Land

2.64 ACRES READY TO DEVELOP UP TO UP TO 16 SINGLE FAMILY HOMES PLUS AN ADU ON EACH LOT OR 60 MULTI FAMILY UNITS OR COTTAGE HOMES IN ONE OF BETHANY'S HIGHEST INCOME SECTORS

ABOUTBETHANY, OR

Situated in Washington County, Portland's Bethany neighborhood is an unincorporated community with approximately 28,047 residents and a remarkable 5.83% annual population growth. Merely 4 miles northeast of Cedar Mill and a convenient 25-minute drive from downtown Portland, its prime location is nestled between Oak Hills and Rock Creek, just north of the Sunset Highway. Furthermore, it is a mere eighteen minutes away from the Portland Hillsboro Airport. This thriving community offers an array of condominiums and apartment buildings, while predominantly featuring smaller residential communities consisting of around 100 homes each, with prices starting from $230,000. Additionally, more expansive estates boasting larger homes are available, with prices extending upwards of $500,000. The strategic location and diverse real estate offerings make Bethany an ideal destination for families, retirees, business professionals, and regular downtown Portland commuters, presenting an excellent opportunity for property developers to invest and capitalize on.

North Bethany Boundary Expansion

Bethany Village

Image: traveloregon.com

Image: .taylormorrisonblog

Bethany Lake Park

Image: THPRD

WALKSCORE: 13 (CAR DEPENDANT)

BIKESCORE: 24 (SOMEWHAT BIKEABLE)

TRANSITSCORE: 0 (NO TRANSIT)

AIRPORT: 18 MIN DRIVE TO HIO PORTLAND-HILLSBORO