Active

6839 SE BELMONT ST

Portland OR, 97215

$2,350,000


$291.42 per sqft

Active

8,064 sqft

Commercial

Built in 1911

Courtesy of Cascade Hasson Sotheby's International Realty

Every once and while, something truly special comes on the market. A property you've admired, stopped by for coffee or a late night dinner. Maybe you've sat outside in the sunshine, enjoyed the breeze, courtesy of Mt.Tabor. If not, you should. It's one of the city's treasured surprises. The anchor of the Mt.Tabor neighborhood. Originally platted in 1889, the terminus of the Fairview Streetcar Line. Mt.Tabor developed quickly into a bustling neighborhood of high end estates, ample commercial services and transit. Today, Mt.Tabor remains the crown jewel of the eastside. With so much history to explore from it's volcanic origins to the Olmstead Designed Mt.Tabor Park no wonder there's a waiting list of eager tenants in line for the upper two units. Spacious, sunlit with bayed front windows. The westside view of the city and west hills sparkles at dusk; the eastside view of Powell Butte, Rocky Butte, the cascades with Mt. Hood at center stage. Portland's 2016 restaurant of the year, Coquine, fills the main floor, serving dinner, take away, fresh pastries and espresso. Do not miss the chance to indulge in Coquine's magical browned butter cookies. Unsurprisingly,the financials are strong with a 6% cap rate, long term tenants, escalating commercial lease plus smart improvements to take this historic property into the next 100 years. The adjacent lot, zoned CM1, is ripe for development. For the bottom line, metric focused investor, this isn't one. This will take an investor, owner occupant, neighbor with an understanding of and commitment to stewardship. A belief in community, respect for history, a bit of creativity and vision, driven to make the world a better place starting at the corner of 68th + Belmont. You're out there, a kindred spirit, we know it. Come find us, we'll welcome you with open hearts.

24532028

MLS ID

July 1, 2024

Listed

August 30, 2024

Updated

Map

6839 SE BELMONT ST
Portland OR, 97215

Interior Features

Total Stories

3


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air 90, Zoned

Exterior/Building Features

Lot Size

0.14 Acres


Roof

Built Up


Sewer

Public Sewer

Other Property Details

Area Name

_143


Taxes

$6,373


Tax Frequency

Annually


Days on Market

60


Garage

No


Parking

On Site


Parking Total

12


View

Yes


View Description

City, Mountain, Park Greenbelt


County

Multnomah


Water Source

Public Water


Pool

No


Zoning

CM1

Listing Courtesy of Cascade Hasson Sotheby's International Realty, Lee McKnight. 503-481-8974

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