Narrow Lot vs Flag Lot Division Portland Oregon

[Laura Young]

Hi All,

I’ve owned a large lot .43 acre in central city NE PDX for about 15 years. The city is undergoing major code revisions which look like they will be in my favor for housing infill. My life circumstances have changed and I’m looking to decrease my monthly expenses and reduce the time required to maintain my 19000 sq ft yard.

I’m waiting to see what happens with the comp plan zoning in 2018-19 and hoping the market doesn’t tank.. but it n the mean time.

I’m looking to infill the lot. My zone is R7 which is ridiculous in the inner city surrounded by R2.5-R3... but I digress..

I believe I could apply for a zone change to R5 to get a 25’ narrow lot (25x218) with street frontage and two permissible ADUs. I have 32’ of clearance from house to fence. 

Or.. I could go with existing zoning and do a 13000 ft flag  with a12’ pole. I believe I could get that same number of units either way.

My question is this: would recover more value going through this process with the city before selling the one or both lots after division? Or would I break even after fees and costs? In whic case I sell to a developer and walk away.

Thoughts ?

Thank you!