By Janet Eastman | The Oregonian/OregonLive | Posted August 17, 2019 at 08:50 AM | Updated August 17, 2019 at 01:36 PM
The words "sold as is" aren't normally associated with $1 million houses. But sellers allowing buyers to complete cosmetic or even structural repairs result in seven-figure fixer-uppers.
For example, renovations could transform the forlorn, Roaring '20s mansion at 429 N.W. Skyline Blvd. in Portland's Forest Park area into a showplace or make it a $2.45 million teardown.
The property also has a separate guest cottage and a see-through structure with skylights that encloses a pool and sauna. All buildings are in need of repairs.
In this week's real estate gallery, we look at pricier homes on the market that have major drawbacks.
Premiere Property Group
Forest Park neighborhood: 429 N.W. Skyline Blvd. is listed at $2.45 million. If it sells, it will be the first time ownership has changed hands in almost 80 years.
The three-level main house was built in 1928 and updated three decades later into a midcentury modern with hardwood floors and paneled walls.
A developer could carve up the 6.35-acre property, which is one of the last large estates with views of Mount Hood, Adams and St. Helens.
The house has five bedrooms, three bathrooms and 5,394 square feet of living space.
"Estate home with pool and guest cottage (most likely a teardown). Unique opportunity to build estate home, subdivide and develop. Development package available," say listing agents Lawrence Burkett and Piperlynn Helms of Premiere Property Group
Urbane Realty Group
King neighborhood: 4812 N.E. Mallory Ave. is listed at $1,999,990. The Old Portland-style house, built in 1910 on 0.28 acres, has three bedrooms, three bathrooms and 3,486 square feet of living space.
"Corner lot. Builder's opportunity! Current house sits on three tax lots. Lot confirmation most likely needed to develop each tax lot. The zoning is R2.5. Buyer to do their own due diligence. Seller will entertain all offers including special or creative terms," says listing agent Ted Williams of Urbane Realty Group.
Arnold Creek neighborhood: 12346 Orchard Hill Road is listed at $1,050,000. The daylight ranch house, built in 1939 on 1.8 acres, has two bedrooms, 2.5 bathrooms and 2,904 square feet of living space.
"Development opportunity. Beautiful 1.8 acre corner lot with water and sewer. Prime location in SW Portland near New Seasons shopping center, Tryon Creek & great schools. Property is zoned R10. Potential for six subdivided lots with a private street. Access to property from two sides. Close in Urban Farm? Dream home or family compound? This property offers flexibility! Value is in the land. Please do not access property without Broker," say listing agent Justin Harnish and Errol Bradley of Harnish Properties.
City and State Real Estate
Irvington neighborhood: 2311 N.E. Schuyler St. is listed at $925,000. The Dutch Colonial house, built in 1905 on a 10,018-square-foot lot, has four bedrooms, 3.5 bathrooms and 4,727 square feet of living space.
"Come and see this handsome Irvington home! Built in 1906 by famed Portland architect Joseph Jacobberger, this almost 5,000 square foot Dutch Colonial holds the highest of pedigrees, but at a fraction of the price. This property has a lot going for it, such as it's clinker brick exterior, new furnace, new garage with bath perfect for studio, shop, office and a landscaped park-like double lot. Just needs some TLC," say listing agents Nick Krautter and Tara Stone of City and State Real Estate.
John L. Scott
Sherwood: 20675 S.W. Lebeau Road is listed at $1.75 million. The traditional-style house, built in 1999 on 19.71 acres, has four bedrooms, 3.5 bathrooms and 4,233 square feet of living space.
"Incredible property in Prime Sherwood location. Photos are old. This was once a builders own home and showplace. Too many features to list. Five mountain views, paved gated access, high ceilings, custom doors, high-end finishes, heated floors, great grape slopes, wraparound porch-outdoor living area, OS 3 car garage w/ studio apartment above, detached 40x80 shop with three bedrooms, two bathroom apartment above. This property needs TLC and to sell. Bring Offers," says listing agent Pat Griffith of John L. Scott.
Keller Williams Realty Professionals
Beaverton: 15660 S.W. Division St. is listed at $775,000. The two-story house, built in 1930 on two acres, has four bedrooms, one bathroom and 1,080 square feet of living space.
"Hard-to-find, two-acre property in prime central Beaverton location! House could use TLC. Newer furnace. RV garage with water and power. Desirable new Mountainside High School. Development potential for multiple lots. Buyer to do their own due diligence. Blocks to several parks. Easy Access to highway 217. So much potential! See ML# 18302321 for Lots/Land Listing," says listing agent Traci Brown of Keller Williams Realty Professionals.
Knipe Realty ERA Powered
Milwaukie: 4002 S.E. Jennings Ave. is listed at $749,900. The bungalow, built in 1947 on 0.6 acres, has three bedrooms, one bathroom and 1,640 square feet of living space.
"Amazing location on the Willamette with river frontage! Dividable lot! Buyer to verify all information. Fixer home on riverfront dividable lot," says listing agent Tim Wilson of Knipe Realty ERA Powered.
Better Homes & Gardens Realty
Milwaukie: 18494 S.E. Willamette Dr. is listed at $600,000. The three-level house, built in 1920 on 0.37 acres, has three bedrooms, three bathrooms and 2,254 square feet of living space.
"A waterfront property that you can make all your own! Rare opportunity to own property with Willamette river frontage. This home needs lots of TLC, or tear down and build a new one! Little to no value in the home, all in the property. Summers full of fun with space for your own dock. Dock pilings have been removed but the permit is current and can be replaced. Use caution and stay off the decks," says listing agent Derek Peterson of Better Homes & Gardens Realty.
Hillsboro: 20645 S.W. Mccormick Hill Road is listed at $574,000. The cabin, built in 1989 on 10.81 acres, has one bedroom, one bathroom and 1,376 square feet of living space.
"Seller motivated! Mountain cabin situated on one of two separate buildable 5+ acre parcels offered for sale together; Cedar View Estates Lots 3 & 4 zoned VLDRS. Home with high lofted beam ceiling, three-car garage and large deck. Property includes 7 acres operating Noble Tree Bough farm with multiple mountain views. Rent, remodel or rebuild custom home on either or both properties 15 min to wine country & 20 min high tech," say listing agents Colleen Ritt and Cherie Sprando of Where, Inc
Keller Williams Realty Professionals
North Plains: 25015 N.W. Moreland Road is listed at $500,000. The manufactured house has one bedroom, one bathroom and 600 square feet of living space.
"Three tax account numbers totaling approximately 122.67 acres in North Plains. Beautiful private acreage. Trees replanted 5 years ago. Single wide is of no value but is occupied by tenant. You must make an appointment before viewing the property," says listing agent Jane Garcia of Keller Williams Realty Professionals.
--Janet Eastman | 503-294-4072
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