MLK Wygant Building
4606 NE Martin Luther King Jr. Blvd.
Asking price: $7,200,000
The MLK Wygant Building is a multi-use property in the heart of Northeast Portland, consisting of 38 affordable housing units and 2 commercial units. This is an excellent opportunity to own an incredible property with tons of potential! New zoning code (RM4) allows for expansion of the property to build numerous additional units, so the possibilities are virtually endless!
With a walk score of 90, the property boasts easy access to public transportation and offers a combination of one, two, three and 4 bedroom spacious apartments. Washer/dryer hookups are available, and there is a coin-op laundry room on the property. Balconies offer a lovely outdoor space for the tenants.
- Units: 40
- Year Built: 1997
- Total Sq. Ft.: 54,579
- Stories: 3
- Roof: Composition/Metal
- Siding: Wood/Stone Facade
- Heat: Electric
- Laundry: W/D Hookups and onsite coin op
- Parking: 17 off-street
- Land Acres: .65 acres
- Zoning: RM4
A little background on Portland:
Much of Portland’s culture is driven by a population that is primarily young, well-educated and liberal. But the metro region is quite accommodating for kids. Family-friendly activities abound, from animal viewing at the zoo to hiking in local parks.
Besides a generous supply of playgrounds, trails and skate parks, many free or inexpensive activities are available in Portland. Favorites include a giant chess set downtown, one of the country’s largest urban parks (5,000 acres) and the world’s smallest park (24 inches) as well as the Portland Saturday Market.
Hiking, water sports and running events are all readily available within the region. In the winter, snow sports can be found 60 miles away at Mount Hood.
Portland is a mecca for foodies. The area’s renowned food carts offer up international fare that’s fast and inexpensive. Artisanal bakeries and ice cream shops are a bit pricier, but their flavorful delights can still command long lines.
Meanwhile, growing conditions in the nearby Willamette Valley are ideal for vineyards, and several distilleries round out Portland’s homegrown libations.*
*Source: US News Real Estate News