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$ 875,000
Est. payment /mo
New
Grants Pass, OR 97526
3,376 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,376 sqft
Price per Sqft $259
MLS Listing ID 220229433
Style Bungalow
Year Built 1938
Annual Tax Amount $3,662
Lot Size 10,454 Sqft
Acres 0.24
Lot Dimensions 0.24
Property Sub-Type Multi Family
Property Description
Value-add 11-unit investment opportunity with established income and multiple paths to stronger NOI. Nine units may support rent increases of approximately $25/month, adding about $2,700 in annual gross income. Based on stabilized underwriting, projected NOI is approximately $62,319, indicating a 7.12% cap rate at the $875,000 offering price. Recent operating history reflects elevated repairs and other non-recurring expenses, creating upside as operations normalize. Deferred maintenance, including exterior paint and a roof that may require attention in the near future, gives a new owner the opportunity to improve curb appeal, strengthen the asset and enhance long-term value. On-site laundry and established rental history add to the appeal. Financials available. Buyer to verify all information.
Location
State OR
County Jackson
Interior
Heating Other
Cooling Wall/Window Unit(s)
Exterior
Parking Features Asphalt, Parking Lot
Roof Type Composition
Building
Foundation Other
Water Public
Architectural Style Bungalow
Level or Stories One
Structure Type Frame
New Construction No
Schools
High Schools Check With District
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Windermere Van Vleet & Assoc.