Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2000
Building Area Net
Land Area Net ()
Call for Offers 2022-05-05

Property description

Jones Lang LaSalle Capital Markets ("JLL") is pleased to present the 1925 SE Scott land site ("the Site"). At approximately 0.48 acres (20,694 SF), the Site provides a rare opportunity for high-density apartment development within the supply-constrained and highly demanded submarket of Milwaukie, Oregon. Located 0.7 miles south of Portland city limits, the Site offers exceptional connectivity to the urban core and greater Portland MSA with no inclusionary housing requirement, allowing for fully market-rate multi-housing development. There are multiple highly accretive zoning benefits to this Site, including the availability of additional density through the development of a parking garage, an 80 percent abatement on residential improvements for developments with ground floor commercial space due to being located in a Vertical Housing Development Zone and having the city’s Downtown Mixed-use Zoning designation. The Site also benefits from its central location in Milwaukie’s historic town center. Residents are a five-minute walk to over 50 retail destinations, a food cart pod, public parks, and the Willamette River. Moreover, the Site is a short walk to the recently implemented MAX light rail orange line which provides residents in Milwaukie with a direct connection to downtown Portland in 20 minutes.

Investment highlights

High visibility location off highway 99E with light rail access, located on a major commuter arterial with 36,000 vehicles per day.


No affordable housing requirement, while Portland requires 10-20 percent of units in new developments to be  rent-restricted, the Site’s location outside of Portland city limits allows for fully market rate housing.


Rare Vertical Housing Tax Credit (VHTC), providing a 20 percent abatement of residential improvement for every floor of residential above ground floor commercial up to an abatement of 80 percent of the residential improvements.


Proximate to Portland’s densest employment districts, as OHSU, the Central Eastside Industrial District, and Central Business District are accessible within 10 minutes. 


Direct frontage to SE Main St and SE Scott Street, a walkable retail corridor, with over 50 restaurants, cafes, and shops within walking distance in Downtown Milwaukie. 


Milwaukie’s lack of historical and future supply provides an opportunity to capture growing rental demand as only one 50+ unit multi-housing project has been built since 2015.

Last Updated Date: 04 Jan 2022

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Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

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Last Updated Date: 04 Jan 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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