A rare opportunity to create an architecturally significant custom home in close-in Portland near OHSU. This lot offers street frontage, a natural ravine setting, and additional buildable area beyond—creating a unique canvas for thoughtful design that embraces privacy, topography, and the surrounding landscape.The property has a staging area, providing a meaningful advantage for construction access, materials, and overall site planning—an increasingly valuable attribute in this location.Prior conceptual plans envisioned a garage near the street with a bridge spanning the ravine to a residence on the opposite buildable area, illustrating the potential for a dramatic and highly functional design approach (buyer to verify feasibility).For those exploring a broader vision, the opportunity expands with two adjacent parcels (RMLS# 396419600 & 308963076), offering potential for assemblage into a larger, cohesive development or private compound.Opportunities with this level of flexibility and proximity to OHSU are increasingly rare. Buyer to complete all due diligence regarding development potential, utilities, and buildability.All parcels are zoned R5 and carry a C,z (Constrained Site/Environmental Overlay), which supports single-family development with an emphasis on environmental sensitivity. The sloped topography lends itself to creative architectural solutions such as daylight basements, terraced construction, or homes that integrate seamlessly into the natural landscape. Utilities are nearby (buyer to verify), and public transit is within walking distance—making access to downtown Portland, OHSU, PSU, and the South Waterfront fast and convenient. The C,z overlay will require careful planning and coordination with the City of Portland for permitting and development, but the potential here is significant for those with vision and a desire to build within nature, just minutes from the urban center.