$864,900 Sale Pending for New Richmond Residence

PORTLAND, Ore. – Following a sale and demolition earlier this year, an under-construction residence in the Richmond neighborhood has a sale pending for more than $500,000 higher than the developer paid for the now-demolished 100-year-old house.

Photo credit: Portland Chronicle

Located at 3215 SE Brooklyn St., the former house was built in 1915. In February the property sold to Lake Oswego-based developer Renaissance Custom Homes, registered to Randal Sebastian, for a price of $320,000.

Photo credit: Portland Chronicle

Photo credit: Portland Chronicle

Photo credit: Portland Chronicle

Shortly after the sale the developer applied for demolition of the 100-year-old home. The delay requirement was waived, as the application was received prior to new code ordinances taking effect that closed some of the residential delay exemptions.

The house was demolished in March.

In place of the 1915 home Renaissance Custom Homes is building a three-story, 3,050-square-foot house.

Photo credit: Portland Chronicle

According to real estate referral site Movoto, as of June 2 there is a pending sale of the house for $864,900. This sale price is $544,900 more than the amount paid by the developer in February.

The listing also describes the house as a “new LEED certified vintage-inspired home by Portland’s #1 Builder in desirable Richmond!”