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(503) 621-2072
Opt Real Estate
540 S NEVADA ST, Portland, OR 97219
- $549,999
- List Price
- $549,999
- Price Change
- ▼ $45,001 1784066799
- Days on Market
- 398
- MLS#
- 274208765
- Property Type
- Land
- Lot Size
- 7, 000 to 9, 999 SqFt
- Region
- Portland NW/ SW/ S, Raleigh Hills
- Status
- ACTIVE
Property Description
A rare opportunity to preserve a piece of Portland history, 540 S Nevada St offers a 7,405 sq ft, nearly level lot in a prime Johns Landing location, zoned RM1, with a decommissioned pump house ready for its next chapter. The original pump and electrical equipment remains inside and conveys with the sale, and everything is disconnected and decommissioned. A buyer may preserve the structure and potentially repurpose it for commercial use, convert it to residential use and expand onto it, or tear it down and build new to maximize the building footprint and total unit count, subject to buyer due diligence. Based on Portland zoning, RM1 allows a minimum density of 1 dwelling per 2,500 sq ft of land, with no maximum density specified, offering flexibility for a multifamily vision on this 0.17 acre site. The seller may consider short-term owner-carried financing if needed, until construction financing funds or permits are fully approved. For a developer, a creative buyer, or someone who sees the potential in a truly unique structure, 540 S Nevada St offers history, flexibility, and a prime location in one rare offering.
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Additional Information
- Tax Amount
- $6,573
- High School
- Ida B Wells
- Elementary School
- Capitol Hill
- Middle School
- Jackson
- Acres
- 0.17
- Property Type
- Multi Family
- Terms
- Cash, Other, Owner Will Carry
- Utilities Included
- Electricity Available, Natural Gas Available, Public Sewer, Water Available
- Present Use
- Commercial
- Road Surface
- Paved
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Listing courtesy of eXp Realty, LLC.
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.