Building Description
Executive Summary
971 SE 22nd Ave presents an opportunity to acquire an 8-unit multifamily asset totaling 3,186 square feet. Constructed in 1957, the property offers investors a well-established residential building with a unit count that supports operational efficiency while maintaining a manageable scale. The RM-20 zoning designation provides a valuable foundation for continued multifamily use, making the asset well-positioned for both traditional rental operations and strategic value-enhancement initiatives.
The property's compact garden-style configuration creates an attractive investment profile for owners seeking stable cash flow from a diversified rent roll. With eight separate units housed within a single building, investors benefit from economies of scale while retaining the flexibility typically associated with smaller multifamily properties. The building's established construction and functional layout offer a platform for future upgrades that may support rental growth and increased asset value over time.
In addition to conventional multifamily operations, the property's size and unit mix may present opportunities for investors exploring short-term rental strategies, subject to applicable regulations and operational considerations. The combination of eight units, RM 20 zoning, and a proven multifamily format creates multiple pathways for income generation, positioning the asset as a versatile investment opportunity for buyers seeking both current revenue potential and long-term upside.
Approved Uses by Zoning — Multiple-Family Residence 20 (RM-20 - Residential Multi-Family)
Uses permitted by right under the municipality’s zoning for this district. The property may carry additional restrictions (deed, association or lease), so tenants are responsible for confirming their intended use with the municipality and landlord before committing.
Allowed by right
Dwelling, Multifamily, Dwelling, Single-Family, Dwelling, Two-Family, Family Community Residence, Transitional Community Residence, Recovery Community, Continuing Care Retirement Community, Nursing Home Facility, Arboretum or Botanical Garden, Community Garden, Park or Plaza, Utility Use, Minor
With special approval
Dwelling, Single-Family (Zero Lot Line), Rooming or boarding house, Community Center, Library, Museum, Senior Center, Youth Center, Adult Day Care Center, Child Care Facility, School, Elementary, Fire or EMS Station, Police Station, Post Office, Place of Worship, Professional Office, Bank or Financial Institution, Condo Hotel, Bed and Breakfast Inn, Hotel or Motel, Eating and Drinking Establishment as accessory use to a hotel/condo hotel (special exception; hotel or condo hotel must have 50+ rooms), Golf Course
Read the full RM-20 - Residential Multi-Family zoning guide ›
