About 2823 Sw 1st Ave
Rare live/work commercial opportunity in historic Lair Hill! This 4,900 SF building across 3 functional levels sits on a 3,975 SF lot with flexible CM1 (Commercial Mixed Use) zoning—perfect for retail, office, or residential combinations. The ground floor features a turnkey 1,600 SF 2nd-generation restaurant. Formerly operated as Lair Hill Bistro, currently leased month-to-month for immediate holding income or a seamless transition for an owner-operator. Upper levels feature a spacious 5 BR / 1 BA apartment, ideal for living above your business or generating additional rental income. Unbeatable versatility and location!
Features of 2823 Sw 1st Ave
| MLS® # | 733440364 |
|---|---|
| Price | $1,250,000 |
| Bathrooms | 0.00 |
| Square Footage | 4,800 |
| Acres | 0.09 |
| Year Built | 1910 |
| Type | Commercial Sale |
| Sub-Type | Commercial |
| Status | Active |
Community Information
| Address | 2823 Sw 1st Ave |
|---|---|
| Area | 148 - Portland NW/ SW/ S, Raleigh Hills |
| City | Portland |
| County | Multnomah |
| State | OR |
| Zip Code | 97201 |
Amenities
| Parking | On Street |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Mini Split |
|---|---|
| Cooling | Mini Split |
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Roof | Composition |
|---|
Additional Information
| Date Listed | July 23rd, 2026 |
|---|---|
| Days on Market | 61 |
| Zoning | Commner |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Keller Williams Realty Portland Premiere |
|---|---|
| Contact Info | 503-799-1835 |