Blog Stories How Much is a Buildable Lot in Portland OR?

How Much is a Buildable Lot in Portland OR?

By Living Room Realty, October 14, 2019

Good question!

In general, a 5000 sf buildable lot is on average $240,000. How do you find one you may ask? You don’t. They are a true unicorn to find one in inner Eastside Portland OR. Every once in a while one will come along. But a lot of times, they are sold off market to a developer. Such was the case for a recent sale of mine. The owner had a separate tax lot attached to their main property. It was more profitable to sell the tax lot to a builder, separately from the main lot and house. A buyer would only value the larger yard at an additional $30,000 at best. While the half lot on its own struck a value of $120,000. The difference in value was too much for the owner to pass up. Most buyers searching for a lot to build on end up having to find a house that needs to be torn down. This is definitely an added expense. Tearing down a house costs around $30,000. Its a tall order when the buy in just to get to a buildable lot is close to $300,000.

Living Room Realty

Living Room Realty is a full-service real estate brokerage with four offices in Portland, one at the coast in Manzanita, and one in Vancouver, WA. At Living Room Realty, we listen and ask the right questions. We’re committed to being your most effective advisor and advocate. Our goal is your success.
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