3124 SE 20th Ave, Portland, OR 97202

Located in the Hosford Abernethy neighborhood, this rare RM2 zoned development opportunity sits on a generous 0.30 acre lot in one of Southeast Portland’s most established and highly sought after areas. The primary value is in the land, offering size, configuration, and zoning that support meaningful redevelopment potential in a close-in location. RM2 zoning allows for medium scale multifamily development consistent with the surrounding urban fabric, subject to buyer verification and City of Portland approvals. The lot’s depth, frontage, and overall scale create flexibility for a range of redevelopment concepts, whether pursued as a single phase or through a staged approach. Existing on the property are two detached homes with utilities, access, and improvements in place, providing optional interim holding income while development plans are finalized. One structure is a 1,944 square foot duplex with two units and basement areas. The second is a 1,682 square foot detached home with basement space, a garage, a shared driveway, and an additional paved off street parking pad. Each home benefits from a fully fenced yard. These improvements may be utilized short term or removed to unlock the site’s highest and best use. The surrounding area features a mix of established residences, small scale multifamily, and newer infill projects, reinforcing strong demand drivers for future housing. The property is located just six blocks from New Seasons Market and the Clinton Community Garden, with additional proximity to Division Street amenities, neighborhood parks, dining, and services further enhancing the site’s long term development appeal. Whether pursued as a tear down development opportunity, a phased redevelopment strategy, or a strategic RM2 land hold, this property presents a compelling opportunity to control a sizable parcel in a proven Southeast Portland submarket. Buyer to verify zoning allowances, development capacity, and permitted uses.