Provision Investments is seeking a buyer for its 35-foot wide lot at 8416 SE Clay Street. The offer includes permitted plans for a three-story nine-unit apartment building. The project, proposed in 2022, could provide three studio and six one-bedroom residences ranging in size from 358 to 505 square feet. The property’s purchaser could opt not to build the planned multifamily building. However, the sellers priced it as a development-ready project, financially incentivizing a new owner to construct it as proposed.
This undeveloped lot was previously attached to 8406 SE Clay Street before its sale in April 2021. The proposed multifamily building would have featured a communal bike room and internal trash facilities. The Real Estate Flyer for the listing show plans supporting an internal stairwell with most units accessed from interior hallways. Permits and listing documents do not mention onsite parking, and at just 3,500 square feet, there is likely insufficient space to support automobile storage. This segment of SE Clay street is an under-improved road with no sidewalks or curbs, limiting curbside parking in this area. However, residents could utilize the 72 TriMet bus line within 900 feet of this apartment building.
Those interested in taking on this development should contact Darryl Bodle II with Keller Williams Realty at 503-709-4632. Property details are available on Zillow, including some building plans and site photographs. Any future work on this project will likely wait until the current owners sell this property. However, the development of this vacant Residential Multi-Dwelling zoned lot is all but certain.
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