- Remmers Construction Continues on Church Site
- Everett Custom Homes’ “Hawthorne” Hits the Market
PORTLAND, Ore. – Redevelopment on property formerly home to a church and parking lot in the Richmond neighborhood of Southeast Portland continues, with four more houses joining two that were completed and sold at well above market prices early this year.
Photo credit: Portland Chronicle
The Lincoln Street Baptist Church, located at the corner of Southeast 32nd Place and Lincoln Street, sold to Everett Custom Homes in 2013 for $1,010,000. That sale included the land the church was built on and two parking lots, one directly to the west of the church and one across Lincoln Street from the building.
Everett Custom Homes is registered to Vic Remmers in Beaverton.
The church was demolished following the sale, with six permits for new construction applied for by Everett Custom Homes.
The first two constructions were built in 2014 and sold early this year. The identical houses were built back to back on Southeast 32nd Avenue and Southeast 32nd Place. The house at 2115 SE 32nd Place sold in January for $729,000, while its rear neighbor at 2104 SE 32nd Ave. sold for $700,000, also in January.
Sold for $729,000. Photo credit: Portland Chronicle
Sold for $700,000. Photo credit: Portland Chronicle
The $700,000 sale price for the house at 2104 SE 32nd Ave. appears to be about $49,000 less than Everett Custom Homes’ initial listed price for the property.
Since then the parking lot on Southeast Lincoln Street has been excavated and construction is well underway on two more Everett Custom Homes.
Photo credit: Portland Chronicle
Photo credit: Portland Chronicle
As those two houses have taken shape the property that formerly held the church has also begun to be redeveloped following a year and a half of sitting vacant with a chain link fence surrounding the mounds of dirt inside.
Photo credit: Portland Chronicle
Photo credit: Portland Chronicle
If the price point for the sales continues on par with the first two new houses at roughly $700,000 per house, the end result of the six houses would be about $4.2 million for Everett Custom Homes, representing four times what the developer paid for the property that is being redeveloped.