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1616 NW Northrup St

1616 NW Northrup St

http://www.josephbernard.net/1616-nw-northrup
Address:
1616 NW Northrup St, Portland, Oregon 97209
Price:
$1,100,000
Units:
7
Price per unit:
$157,143
Cap Rate:
5.69%
Year Built:
1900/2008

Highlights

  • Custom 15' Fleetwood glass sliding door windows
  • Energy Score 7
  • NW Alphabet District location
  • Currently utilized as residence & Airbnb
  • Zoned CM3 for Commercial & Residential uses
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1616 NW Northrup St

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*:

 

        - Personal residence combo with Airbnb (current usage)
        - Utilization of all seven rooms for Airbnb
        - Office/retail space
        - Personal residence only
        - Retail store
        - Taco cart
        - Boutique advertising agency
        - Spa
        - Amazon product storage
        - Special event space
 

In addition to these options:

        - Coffee shop on the first floor that opens up at street level
 

*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

Highlights

  • Custom 15' Fleetwood glass sliding door windows
  • Energy Score 7
  • NW Alphabet District location
  • Currently utilized as residence & Airbnb
  • Zoned CM3 for Commercial & Residential uses

1616 NW Northrup St

NW Northrup St/NW 16th Ave

1616 NW Northrup St

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1616 NW Northrup St

Document Title Document Type
Property Flyer Adobe PDF

1616 NW Northrup St

Bernard Gehret
bgehret@josephbernard.net
Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax