IN CONTRACT - NO OPEN HOUSES 10/3-4 A striking modern transformation in the heart of Southeast Portland, this 1948 home was completely reimagined in 2018. Its distinctive shou sugi ban cedar siding creates an unforgettable first impression, while the interior delivers a thoughtful balance of dramatic design, flexibility, and everyday comfort. The main level unfolds into a spacious open-concept living area designed for gathering and entertaining. Tucked away for privacy, the main-level primary suite features a generous walk-in closet with built-in organizers and a beautifully tiled walk-in shower. A dedicated exercise area within the partially converted garage is also conveniently accessible from the main floor, and delivers plenty of room for weights, machines, cardio equipment, or aerial silks. Become ballet buff or beefy chief, and anywhere in between. Upstairs, a modular bedroom area is currently set up as 2 spacious bedrooms, but can be modified to create up to 4 separate, private spaces, offering one-of-a-kind versatility. The additional loft offers space for a home office, library, media lounge, or creative retreat. Step outside onto the elevated second-floor deck and soak in views stretching toward downtown Portland and the West Hills, a rare perspective from this close-in neighborhood. Located near the restaurants, shops, cafés, and energy of Division and Hawthorne, with convenient access to surrounding parks, transit, and neighborhood schools, this is a one-of-a-kind Portland home for buyers who want modern architecture without giving up the character and connectivity of an established neighborhood. This is an opportunity to step into something that feels truly unique, flexible, impressive, and, charmingly, home. Special financing program being offered by our preferred lender can help save HUNDREDS per month on your mortgage. Ask your broker or the listing broker for more information. [Home Energy Score = 6. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10192374]
Colleen Glaab • Portland's Alternative Inc., Realtors
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Rental estimate
Est. $2,993 per month, based on comparable rentals
Sale and tax history for 2540 SE Clay St
Sale History
Tax History
Date
Event
Price
RMLS #430648341
Oct 19, 2026
Sold
$900,000
$311/sq ft
Oct 3, 2026
Pending
—
Oct 1, 2026
Price Changed
$910,000
$315/sq ft
Sep 4, 2026
Listed
$975,000
$337/sq ft
RMLS #21689746
Jul 22, 2021
Sold
$1,200,000
$415/sq ft
Jun 23, 2021
Pending
—
Jun 16, 2021
Listed
$1,200,000
$415/sq ft
Once in a lifetime opportunity to own this contemporary btwn Ladd's Addition & Colonial Heights. Incredibly unique & modern rebuild thoughtfully crafted w/ functionality & lifestyle in mind. Energy-efficient tri-level home has so much to offer: greatroom flows to gourmet kitchen with Pratt + Larson tile & backsplash & high-end appliances. Custom light fixtures, high ceilings & gorgeous bamboo floors. Trapeze & trampoline! Bedrooms & loft upstairs. 2nd level deck w/ West Hills views!
RMLS #17573637
Apr 6, 2017
Sold
$575,000
$199/sq ft
Mar 6, 2017
Pending
—
Feb 27, 2017
Listed
$559,000
$193/sq ft
Queen of Colonial Heights. Knotty pine ranch offers flowing, spacious one-level living. Flexible floor plan w/plenty of elbow room. Expansive kitchen w/eating bar. Large Master bedroom, double closet. Wine cellar + bonus/tasting room. NEW windows+AC. Updated roof, gutters, hi-eff furnace. Roomy yard, covered patio, raised beds. Pivotal location near parks, shopping, dining. High transit+walk+bike scores.
Public Records
Sep 29, 2008
Sold
$367,500
$127/sq ft
Public Records
Mar 14, 2002
Sold
$200,500
$69/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$11,252 (+3.7%)
2024
$10,848 (+4.0%)
2023
$10,431 (+2.2%)
2022
$10,205 (+23.7%)
2021
$8,251 (+9.0%)
2020
$7,569 (+26.7%)
2019
$5,975 (+3.0%)
2018
$5,799 (+4.3%)
2017
$5,558 (+9.3%)
2016
$5,086 (+2.7%)
2015
$4,952 (+1.5%)
2014
$4,878 (+2.4%)
2013
$4,765 (+10.5%)
2012
$4,310 (+3.9%)
2011
$4,148 (+5.4%)
2010
$3,935 (+2.7%)
2009
$3,833
Public record
Public record
Zoning
Permits
Beds
2
Baths
1.5
Stories
1
Lot width
55 ft.
Lot depth
99 ft.
Lot size
5,445 Sq. Ft.
Year renovated
1948
Sq. Ft.
1,355
Year built
1948
Style
Single Family Residential
County
Multnomah County
APN
R124911
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Oct 5, 2026.
R2.5
Residential 2,500 zone
The single-dwelling zones are intended to preserve land for housing and to provide housing opportunities for individual households. The zones implement the comprehensive plan policies and designations for single-dwelling housing and provide options for infill housing that is compatible with the scale of the single-dwelling neighborhood.
Permitted uses
Include but are not limited to:
Housing
Sep 21, 2023 • Final
Mechanical minor labels
HVAC
May 2, 2019 • Final
Residential bldg/trade
Addition
Remodel
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Parking Features: Driveway, On Street
Parking Total: 1
Garage Information
Garage Type: Attached, Partially Converted to Living Space
Garage Spaces: 1
Has Attached Garage: Yes
Interior
Virtual Tour Information
Virtual Tour Type: Photo Slide Show
Has Virtual Tour Unbranded: Yes
Virtual Tour Type 2: 3-D Tour
Has Virtual Tour Unbranded 2: Yes
Appliances
Appliances: Built-in Oven, Built-in Range, Cooktop, Dishwasher, Free-Standing Refrigerator, Gas Appliances, Island, Microwave, Range Hood, Tile
Hot Water Description: Electricity
Interior Features
Has Accessibility: Yes
Accessibility Features: Garage on Main, Main Floor Bedroom w/Bath, Walk-in Shower
Interior Features: Engineered Hardwood, Garage Door Opener, High Ceilings, Wall to Wall Carpet, Washer/Dryer