Seeking Help Finding Portland, Oregon House Hack

[John Jacobus]

I‘m slowly making my way back to PDX over the next 12-18 months after a 4 year tour of duty in NYC and am looking for a house hack, teardown and rebuild, or small multifamily that I can live in alongside 2-4 other residents.  The goal is to find a property within 2 miles of the water front (NW, NE, or SE PDX) with value add opportunity and zoned for 2-4 families.  Walkability is critical.

Investment returns are not my primary driver and I’m familiar with the reality of low rent-to-price ratios as I used to live in NW PDX in 2010-2012.  

I’m looking for something with hair on it that can be repositioned and turned into a decent cash flowing asset that will subsidize my cost of living.  While “living for free” would be wonderful, I recognize this is unlikely.  

Im seeking referrals to agents/brokers in the area who work with investors and can help me navigate the multi-dwelling zoning / land use labyrinth.  I seek to honor existing zoning guidelines but need help understanding what can/cannot be done on an existing lot as it relates to adding units/dwellings.

[Mathew Wray]

Hey John, 

Welcome back (almost) to Portland! Your understanding of the realities of house hacking here will help make that transition a lot easier on you. There are plenty of brokers here who have helped folks house hack their way to success, of which I'm one. I'd be happy to get you some recommendations from those who have worked with me in the past. 

That being said, you're wise to look ahead to changing zoning and land-use requirements. Some big changes are coming that will, potentially, increase the ability to develop certain lots down the line. If you want to do some pre-research now, the city Bureau of Planning and Sustainability has a website with more information (see below)

https://www.portlandoregon.gov/bps/67728

and here is a link to an overview of the proposed changes that is likely easier to skim over:

https://www.portlandoregon.gov/bps/article/678802

Welcome back!

Mathew