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0.78 Acres in the heart of Historic Downtown Gresham

225 NW Miller Avenue, Gresham, Oregon 97030

$2,500,000

Status:
Available
County:
Multnomah
Units:
TBD
Year Built:
TBD
Land Size:
0.78 Acres
Price per SF:
$73
Unit Mix:

(Proposed) 90 Units consisting of Twenty-four (24) studios, fifty (50) 1-bedroom, twelve (12) 2-bedroom, and four (4) 3-bedroom units.

Floors:
5 proposed
Property Photo

The Second Miller Apartments is a proposed development site located in the city of Gresham. The site consists of a full half-block of land. 

  • Preliminary approval for 90 units of apartments plus ground floor commercial; development documents available upon request
  • Multiple development incentives, including Opportunity Zone, Vertical Housing Development Zone, and potential METRO-TOD funding
  • Walk score of 89
  • Nearly $100K in-place annual rent from existing commercial tenants on month-to-month leases
  • DCC zoning allows for a wide range of uses
  • Limited permits approved in Gresham in past 5 years, so limited competition for tenants

Multifamily development within the city limits of Gresham has been minimal over the past few years. The urban location and upscale design would be a unique asset for Gresham, with more than 20% anticipated rent growth over the next two years.

TBD
Units
TBD
Year Built

Property Location