2394 Marion St - Apartments FOR SALE


North Bend, OR 97459
$1,450,000 USD
503-351-0146
2394 Marion St, North Bend, OR for Sale
$1,450,000 USD
Apartments - FOR SALE
1/11
null | 6.97% Cap Rate

2394 Marion St
North Bend, OR 97459


HIGHLIGHTS

  • Upside in Multiple Units via Alignment with Already-Proven Market Rents
  • Diverse Mix of Studio, One- and Two-Bedroom Units, Many in Single-Story Buildings
  • Tucked Away in Quiet Residential Neighborhood
  • Updated electrical and Plumbing Throughout Complex
  • Professionally Managed and Maintained for Turnkey Acquisition

OVERVIEW

The Rhoades Group of Marcus & Millichap is excited to exclusively represent the sale of Marion Street Apartments, two adjoining apartment buildings located in North Bend, Oregon. This well-kept complex includes a total of 12 units, along with a laundry facility and additional storage units, making it an appealing investment prospect. The Marion Street Apartments consist of 9 two-bedroom units, 2 one-bedroom units, and 1 studio, all featuring open layouts that enhance the living experience. All of the units are designed in a garden-style layout, with over half featuring back patios and spacious fenced front yards, perfect for tenants looking for outdoor space and a house-like environment. There is an opportunity to increase rental income by aligning rents with the highest proven and continuing upgrades with premium finishes such as stainless steel appliances, quartz countertops and modern hardware packages. The complex has undergone numerous upgrades, including modernized electrical and plumbing systems, several new electric panels, and updated water heaters and many interiors tuned to a quality workforce housing option.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$170 USD /SF

# OF UNITS

12

PRICE/UNIT

$120,833

CAP RATE

6.97%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

RM

APN/PARCEL ID

1005267800,1005268100

ASK ABOUT THIS PROPERTY

Whitney RhoadesMarcus & MillichapMore Info
503-351-0146

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

Whitney RhoadesMarcus & MillichapMore Info
503-351-0146

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