1820 E 28th Ave - Multi-Family FOR SALE


Eugene, OR 97403- Fairmont
$1,250,000 USD
541-556-8027
1820 E 28th Ave, Eugene, OR for Sale
$1,250,000 USD
Multi-Family - FOR SALE
1/124
null | 6.4% Cap Rate

1820 E 28th Ave
Eugene, OR 97403
Fairmont


HIGHLIGHTS

  • Booked 319 nights of 2025
  • Located in the heart of South Eugene
  • 4 potential rentable spaces with room to add ammenities

OVERVIEW

Where Whimsy Meets Wealth-Building Potential! Tucked behind Laurelwood Golf Course in the coveted South Hills, this is not just a property—it’s a rare income-producing asset. Originally built in 1975 yet rich with centuries-old charm, this one-of-a-kind castle has been transformed into a high-performing short-term rental generating over $100,000 annually (up by 25% this year so far), with four potential rentable spaces designed to maximize revenue and guest experience. Based on current performance, this asset offers an estimated 6.4% cap rate (and rising with this year's numbers), positioning it as a compelling opportunity for investors seeking both yield and long-term appreciation. The current production is more than satisfactory but, there is still room to maximize even more! Proven Income. Documented Performance. According to the 2025 earnings report: - Gross Earnings: $100,917+ annually - Net Payout: $97,091+ after fees - Cleaning, maintenance and property taxes = roughly $20,000.00 - 319 nights booked (2025) with consistent year-round demand Revenue is diversified across: - The Castle (primary residence) - The Cottage (detached ADU) - Combined bookings (premium and diverse experience offerings) - Detached garage is untapped income potential as it is not currently being rented out This is not a speculative Airbnb—it is a fully operational, income-generating asset with a track record. The Asset Breakdown: The Castle | 2,020 SQFT | 3 Levels A fully immersive guest experience featuring: - Vaulted beamed ceilings & dramatic stonework - Gourmet kitchen with oversized island & granite counters - Tower wing bedroom with additional flex space above and two more bedrooms upstairs - Designated laundry room with it's own exterior entry - Finished basement studio with private entrance, kitchenette & bath ( Can be closed off from main castle to be it's own rentable space) Detached ADU | 532 SQFT - Full kitchen, bathroom & upstairs bedroom - Ideal for independent bookings or extended stays Additional Value-Add Features: - Garage is converted into a workspace currently but could easily be a game room, rentable storage or it's own studio with the addition of a bathroom (future expansion potential) - 3 fireplaces + efficient mini-split systems - Hot tub / EV-ready potential - Private and wooded in the heart of South Eugene (premium guest appeal) Why This Investment Works: In today’s short-term rental landscape, uniqueness drives premium pricing and occupancy. While standard homes compete on price, this property competes on experience. A castle isn’t just rare—it’s market-resistant since it's the experience the guests are after. Guests don’t compare it to anything else… because they can’t. The Opportunity For the investor: - A turnkey, income-producing property with strong historical performance, multiple revenue streams, and brandable identity. For the visionary: - A personal retreat that pays for itself—where lifestyle and leverage align. This is the kind of property that doesn’t sit in a portfolio… it defines it.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$490 USD /SF

# OF UNITS

4

PRICE/UNIT

$312,500

CAP RATE

6.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Ducking Castle Estate - unmatched income!

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R1

APN/PARCEL ID

0591295

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541-556-8027

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Rachel BallTriple Oaks RealtyMore Info
541-556-8027

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.