297 Main St W - Apartments FOR SALE


Monmouth, OR 97361- Monmouth/Independence
$899,900 USD
541-905-2698
297 Main St W, Monmouth, OR for Sale
$899,900 USD
Apartments - FOR SALE
1/108
null | 7.75% Cap Rate

297 Main St W
Monmouth, OR 97361
Monmouth/Independence


HIGHLIGHTS

  • 14 Dedicated Parking Spots
  • On Site Laundry
  • Upgraded and Remodeled Units
  • High Average Rent Amounts
  • Amazing Long Term Equity Value
  • 6 Blocks from WOU Campus

OVERVIEW

Amazing Investment opportunity with High Average Rents for area and finely upgraded 3 of 4 units. With Gross rents at $1750, $1675, $1675, $1325, on site Laundry Room, 14 dedicated parking spots from parking lot to streetside with room for RV Parking, Trash Dumpster area, Balconies, Patios and Large Shared Backyard Space with extremely low Vacancy due to waiting list for tenancy. Leases are all 1 year with high deposit and negotiated terms for $25/month added utility fee per adult occupant. Lease terms and lengths are available upon request along with current rent rolls. Property includes smart features for each unit, painted cabinets, new interior Paints, trim, fixtures, hardware and much more. Recent asking price drop well below area average for likeness leaves a massive purchase equity. Property is also assumable at 4.99% interest rate or fantastic owner occupied opportunity that will accept FHA loan. Financing options available, call listing broker. Only 6 blocks from WOU campus and just seconds from downtown Monmouth area makes this a desirable location for commute and convenience. Don't Miss Out and call today for chance at a substantial long term investment.

FOR SALE DETAILS

PRICE

$899,900 USD

PRICE/SF

$274 USD /SF

# OF UNITS

4

PRICE/UNIT

$224,975

CAP RATE

7.75%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Hi-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,060 SF

ZONING

RH, RM

APN/PARCEL ID

194882

ASK ABOUT THIS PROPERTY

Chad HarringtoneXp Realty LLC.More Info
541-905-2698

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Chad HarringtoneXp Realty LLC.More Info
541-905-2698

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