‘Zombie’ mansion near Tigard, abandoned and unfinished since 2008, for sale at $1.3 million


Squatters and vandals have found refuge inside a sprawling seven-bedroom house southwest of Portland that has been abandoned and unfinished since 2008. Although there is still no electricity, water or heating, the boarded-up shell on a prominent, 1.5-acre corner lot at 15990 S.W. 133rd Ave. near Tigard is listed for sale at $1.3 million.

The targeted buyer: Someone who would like to complete the 9,052-square-foot structure to use it as a private mansion, multigenerational home or residential-care facility, subject to Washington County approval, said broker Eric Squires of All Professionals Real Estate, who shares the listing with Milad Kashkouli.

Or a new owner could tear down the once illegally occupied “Zombie house” and start over on the property zoned for six homes per acre.

The structure’s condition is stated as a “fixer-upper.” Interior walls are framed and frozen in time without insulation, wiring, plumbing or finishes. A bathtub, spray painted by trespassers, sits on the concrete slab. There is graffiti plastered on plywood and shattered windows.

The listing describes the house as a “work in process… brimming with potential and unique features” with the seller willing to finance a loan to a buyer with a 50% cash down payment.

The property has been cleared of debris, blackberry vines and other bramble, and more important, the deed, once owned by 17 disparate, uncooperative entities, now has one owner, an investor who paid $690,000 for the property on Washington County’s tax foreclosure list in November 2022.

When construction of the house started in 2006, owner Bill Nuess, who worked as a builder and developer, envisioned a place for his family, including his mother, that would later be converted into an elderly adult residential-care facility, according to The Oregonian in a 2016 story, published soon after Nuess died at age 63.

Architectural plans by Lewis River Design in Washington show a 1,125-square-foot living room with a fireplace and shaft for an elevator connecting the three levels. To finance the property, Nuess formed a limited liability company called Point West Development LLC, which included 17 investors.

As the Great Recession of 2008 hit, Nuess faced a complicated freeze of his building loan, and construction ceased. The abandoned “Zombie house” has publicly been for sale since 2010.

The online real estate database Realtor.com found Portland ranked high among U.S. metropolitan areas for its proliferation of distressed zombie properties, especially during the 2020s’ pandemic era when there were state and federal home foreclosure moratoriums.

The neglected eyesores are typically sold “as is” without repairs and usually at deep discount to house flippers or hands-on homeowners who see opportunity in building “sweat equity” in a desirable neighborhood.

The unfinished mansion for sale in unincorporated Washington County is below a neighborhood of large, luxury residences, said Squires, who sees financial and social benefits in closing “the polarities between this dilapidated house and the neighborhood.”

Squires said it’s “gutsy” to ask $1.3 million for an unfinished building. “But there is truly value here. The bones are good, and when it’s built out, it will be a $3 to $6 million property,” he told The Oregonian/OregonLive.

The 10 car spaces in the garage adjacent to a large workshop on the lowest level could be used as living quarters, he added.

Squires said neighbors seeing the For Sale sign in front of the property since Dec. 13 have been calling him.

“A savvy investor bought the land out of tax foreclosure and cleaned it up. We have cured the legal circus that clouded title with 17 partnerships, and cleared other liens and judgments,” said Squires. “It’s time to put a happy conclusion to this very long story.”

Oregon real estate

— Janet Eastman | 503-294-4072

jeastman@oregonian.com | @janeteastman





This article was originally published by a www.oregonlive.com . Read the Original article here. .