Flexible live/work bungalow in Sellwood-Moreland with recent roof.
Estimate anchored to the listed price ($449,000) and adjusted with local market context, property condition, lot size, and CM2 zoning premium. No live comparable sales search available.
This classic Sellwood-Moreland bungalow marries early-20th-century character with a rare zoning advantage: CM2 commercial/mixed-use designation that gives this property exceptional flexibility. The home offers approximately 1,434 square feet of living area with two bedrooms and one full bath on a deep 5,227 sq ft lot — a generous yard for the neighborhood.
A practical improvement has already been completed: the roof was replaced in 2026, eliminating one major near-term expense. Inside, the layout is straightforward and functional — original lines and period touches set the stage for a thoughtful renovation. The interior is presented as livable and ready for modernization: update the kitchen and bath, improve systems, and restore original millwork to capture maximum neighborhood value.
CM2 zoning opens possibilities beyond a conventional single-family purchase. Owners could operate a home-based professional practice or small office, create a dedicated live/work suite, or plan for a sensitive addition or small-scale redevelopment (subject to City of Portland review). For an investor, the property represents a value-add flip or a buy-and-hold with upside through renovation and rental to Portland professionals seeking neighborhood proximity to parks and the riverfront.
Outside, the deep lot provides room for gardening, outdoor living, or an accessory dwelling (permit-dependent). There is no recorded garage; on-street parking and potential driveway space serve daily needs. Location is a major asset — walk to Sellwood’s antiques district, neighborhood cafes, and green spaces, with quick access to the Springwater Corridor and Oaks Amusement Park.
Schedule a showing to evaluate the interior systems and see how this well-located bungalow can be repositioned. Whether you are an owner-occupant seeking a project with upside or an investor aiming to capture market demand for character homes near downtown, this property is a flexible, rare opportunity in Sellwood-Moreland.
8428 SE 17th Ave, Portland, OR 97202
Sellwood-Moreland is a tree-lined, walkable neighborhood in SE Portland known for its antique shops, locally owned restaurants, and close-in parks. It attracts families and professionals who value neighborhood retail corridors, riverfront access, and a small-town feel while remaining minutes from downtown by car or transit.
Immediate access to Sellwood Riverfront Park, Oaks Amusement Park, and the Springwater Corridor trail gives this property excellent outdoor recreation options within a short walk or bike ride.
Sellwood-Moreland remains one of Southeast Portland’s most in-demand neighborhoods for buyers who prize walkability, trees, and neighborhood retail. In 2025–2026 the local market has stabilized after a cyclical slowdown; inventory is still tight for well-located homes. Median sale prices in the broader SE Portland area are higher than the citywide median, reflecting proximity to parks and riverfront amenities. Sellers with character homes and zoning flexibility (like CM2) often see strong interest from both owner-occupants and small investors. Days-on-market in comparable neighborhoods typically range from 20–45 days depending on asking price and condition. For this property, price sensitivity will center on renovation cost expectations and how a buyer intends to leverage the CM2 zoning.
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