Bought with Adam Witkin Real Estate
$600,000
$775,000
22.6%For more information regarding the value of a property, please contact us for a free consultation.
7,000 SqFt
SOLD DATE : 01/29/2021
Key Details
Sold Price $600,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,000 sqft
Price per Sqft $85
MLS Listing ID 19415875
Sold Date 01/29/21
Year Built 1945
Annual Tax Amount $3,042
Tax Year 2019
Property Description
16 rental units on 3.28 acres. Gross annual income is $81,000 with gross expenses of $31,400 leaving a net operating income of $49,560. 6.4% cap rate and 9.56 GRM. Expenses include sewer, insurance, taxes ($3042.87 for 2018), repairs & maintenance (est. at $250/Mo.), Onsite manager who receives free rent ($600/Mo.) and manager's utilities $320/Mo. Rents are VERY low and have upside potential!!
Location
State OR
County Linn
Area _221
Zoning R3
Interior
Heating Zoned
Cooling None
Exterior
View Y/N true
View Valley
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Sewer Other, Septic Tank
Water Well
Level or Stories 1
Schools
Elementary Schools Harrisburg
Middle Schools Harrisburg
High Schools Harrisburg
Others
Acceptable Financing CallListingAgent, Cash, Conventional
Listing Terms CallListingAgent, Cash, Conventional
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