This project is permit ready and available to meet 1031 requirements now.
The Ceeley project is a four-story mixed-use development in Fairview Village in east Multnomah County (east Portland metro area).
Two parcels make up the project which is located at the SW corner of the NE Market Drive/NE Village Street intersection. The two parcels combined total 45,613 SF or 1.05 acres. The building will be constructed on the intersection parcel along with additional on-site parking. The second parcel has an existing 62-stall parking lot dedicated to the project. Total off-street parking is 78 stalls.
The project will have 33 apartments over its ground floor which will be occupied by 4-5 office spaces.
Utilities are stubbed in the building pad and sitework is completed to within 7’ of the building pad.
Seller is developer/contractor who will contribute $1,000,000 + of land value with Investor’s 1031 proceeds. Assumes a $3,000,000 + investment with construction loan to leverage the project returns. Slide deck and proforma available.
Land Cost includes over $900,000 of completed sitework which reduces construction budget; over $250,000 of A/E fees and permit deposits; and project secured a $200,000 waiver of SDCs by City of Fairview. True land value is approximately $30,000 per door
- Province / State: Oregon
- City / Town: Fairview
- Postal code / ZIP: 97024