PORTLAND, Ore. – A house built 121 years ago in the Hosford-Abernethy neighborhood will be demolished after a foreclosure, a subsequent sale from one developer to another for $111,000 higher than the auction price, and a third attempt to sell the property for even higher still.
Located at 3005 SE 18th Ave., the house was built in 1895 and sits on a 5,000-square-foot lot. It is situated on a block that is a mix of houses similar in age, and a couple industrial warehouses.
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The 121-year-old house was foreclosed upon and was sold at a public auction. Developer Vantage Homes LLC paid $278,000 for the house, with public records listing that sale taking place in early February. Vantage Homes LLC is registered to Jerad Goughnor and Sean Robbins at addresses in Clackamas and Newport Beach, Calif.
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But then, just weeks later, Vantage Homes LLC sold the house to another development company, Clackamas-based Dez Development LLC, for $389,000, which is $111,000 more than Vantage Homes LLC bought it for at the public auction. Dez Development LLC is registered in Clackamas to Slavik Dezhnyuk.
Real estate databases show Dez Development LLC listed the property for sale yet again shortly after purchasing it, for a price of $450,000.
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The house didn’t immediately sell, and the developer then applied for demolition of the 121-year-old building on April 8. A few days later, the real estate listing was removed.
The applicant on the demolition is Nathan Arnold of permit fast-tracking company Faster Permits, while the contractor is Vira Gavrishov of UKA Construction LLC.
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There are no underlying lot lines beneath the current 5,000-square-foot lot layout, but the property is zoned R2.5 which allows one residence per 2,500 square feet of land in new lot divisions, meaning the developer could split the lot for two new units. That process would require public notice and allow public testimony.
The demolition delay period will likely expire May 13.
Photo credit: Portland Chronicle contributor