Summary

The beautifully remodeled and well located property features three stories, seven bedrooms and four bathrooms. This uniquely zoned property (CM3) allows for a variety of commercial AND residential uses. Currently, the sellers live on-site on the third floor, and rent out the first and second floors to Airbnb tenants. The high quality windows and wall length sliding glass doors create a beautiful and QUIET space. The layout and favorable zoning of the property has a variety of uses, with potential to be*:

In addition to these options:

*Buyer to verify all zoning options and regulations

While the sellers have utilized the property for Airbnb purposes, they are unable to transfer the Airbnb "business", and buyer to complete all due diligence on any and all potential uses of the property. Sellers are selling the property located at 1616 NW Northrup, NOT the Airbnb "business".

ZONING: CM3

Commercial/Mixed Use 3

The Commercial/Mixed Use 3 (CM3) zone is a large-scale zone intended for sites in high-capacity transit station areas, in town centers, along streetcar alignments, along civic corridors, and in locations close to the Central City. It is intended to be an intensely urban zone and is not appropriate for sites where adjacent properties have single-dwelling residential zoning. The zone allows a wide range and mix of commercial and residential uses, as well as employment uses that have limited off-site impacts. Buildings in this zone will generally be up to six stories tall unless height and floor area bonuses are used, or plan district provisions specify other height limits. Development is intended to be pedestrian-oriented, with buildings that contribute to an urban environment with a strong street edge of buildings. The scale of development is intended to be larger than what is allowed in lower intensity commercial/mixed use and residential zones. Design review is typically required in this zone.

Source: www.portlandoregon.gov