Description
816 NE 8th Street provides a great opportunity in central Grants Pass to acquire 6-units at a competitive basis. Centrally located just blocks from Downtown, the property's easy access is highlighted by a strong operating history. The complex features 6 units, each w/ a unique floorplan. While constructed in the late 1800's, building has had extensive repairs and upgrades completed: new plumbing, roofing, and other fixtures and systems. The current owner has operated the property for multiple years and has kept up on maintenance. Rents have recently been increased by the State-wide maximum of 14.6%. However, the majority of units are still approximately 15-25% below market. Positioned as an ideal long-term investment, the rent roll's loss-to-lease, as well as improvements to the property and potential utility reimbursements provide an opportunity for the Buyer to add significant near-term value. Sale contingent on Seller finding suitable replacement property (already identified).
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0BEDS
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0.35ACRES
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0BATHS
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01/2 BATHS
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4,512SQFT
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$132$/SQFT
School Information
Description
816 NE 8th Street provides a great opportunity in central Grants Pass to acquire 6-units at a competitive basis. Centrally located just blocks from Downtown, the property's easy access is highlighted by a strong operating history. The complex features 6 units, each w/ a unique floorplan. While constructed in the late 1800's, building has had extensive repairs and upgrades completed: new plumbing, roofing, and other fixtures and systems. The current owner has operated the property for multiple years and has kept up on maintenance. Rents have recently been increased by the State-wide maximum of 14.6%. However, the majority of units are still approximately 15-25% below market. Positioned as an ideal long-term investment, the rent roll's loss-to-lease, as well as improvements to the property and potential utility reimbursements provide an opportunity for the Buyer to add significant near-term value. Sale contingent on Seller finding suitable replacement property (already identified).
© 2023 Oregon Datashare (KCAR | MLSCO | SOMLS). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Oregon Datashare. Real estate listings held by IDX Brokerage firms other than Chris Scott, Central Oregon Valley Brokers with RE/MAX Key Properties are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. The consumer will not copy, retransmit nor redistribute any of the content from this website. Information provided is deemed reliable, but not guaranteed. Listing courtesy of Chris Scott, Central Oregon Valley Brokers with RE/MAX Key Properties. Data last updated: .2023-03-26T19:46:42.227