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541-326-6596
STEVE THOMAS GROUP
Grants Pass, OR 97526
- $875,000
Listing courtesy of Windermere Van Vleet & Assoc..
- List Price
- $875,000
- Status
- ACTIVE
- MLS#
- 220229433
- Acres
- 0.24
- Lot Size
- 10,454
- Year Built
- 1938
- subdivision
- N/A
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.
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Additional Information
- Style
- Bungalow
- Stories
- One
- Foundation
- Other
- Roof
- Composition
- Flooring
- Laminate, Tile
- Appliances
- Range
- Cooling
- Wall/Window Unit(s)
- Heating
- Other
- Water
- Public
- Sewer
- Public Sewer
- Elementary School
- Check With District
- Middle School
- Check With District
- High School
- Check With District
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The data relating to real estate for sale on this web site comes in part from the Internet Data Display (IDX) of the Southern Oregon Multiple Listing Service. Real estate listings held by brokerage firms other than our company are marked with the IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information subject to change and should be independently verified. Listing content is copyright © 2018 SOMLS, Medford, Oregon. Last updated: