Residential Land with Home for Sale in Portland, Oregon

A one-of-a-kind investment opportunity-two adjoining parcels totaling 4.51 forested R5 acres, just minutes from downtown Portland. The owner has improve the property to last the rest of his life. (See Attached documents) This income-generating (NOI 2024 $234,711.17 2025 current track NOI $328,385) retreat offers multiple rental units, a stunning natural setting, and high revenue potential. 8720 SW Katheryn Ln (Pictures 2-10) - A 3,000 sq. ft. remodeled daylight ranch with six bedrooms, two permitted kitchens, and high-quality timber construction on 2.16 acres. Available separately for $1,490,000. 2215 SW 87th Ave (Pictures 11-17) - A 3,270 sq. ft. four-bedroom, three-bath home featuring remodeled bathrooms, stunning wood paneling, and a durable metal roof on 2.35 acres.- Yeti's Treehouse (Pictures 19-24) - Built on four live trees, featuring a kitchenette, bathroom, outdoor soaking tub, & zipline. Highest-grossing rental.- The Old Barn (Pictures 26-33) - A remodeled barn-themed retreat with a large kitchen area, grand piano, orthopedic bed, hot tub, & unique charm.- Sasquatch Tiny Treehouse (Pictures 35-41) - A cozy woodland retreat with wood paneling, kitchenette, vaulted ceilings, & full bathroom. Right on the water!- Bigfoot Glamping Treehouse (Pictures 43-47) - A 10-ft elevated hideaway overlooking the ravine, perfect for wildlife watching. 2215 SW 87th Ave, including all four short-term rental units, is available for separate purchase at $2,425,000. This thriving rental business has been a labor of love for the owner, generating high revenue. Sale includes six months of consulting to ensure a smooth transition. Whether as a lucrative rental operation, a dream retreat, or a development, this property is truly one of a kind.