51 Unit value-add opportunity, only $39K/door! Located in downtown Klamath Falls, OR with views of Lake Ewauna! Affordable housing is in high demand & a near 40% vacancy rate will allow for quick stabilization upon Refi. Majority of vacant units are rent ready & could be HUD approved with minimal upgrades. New management and Cap-Ex improvements performed in year 1 will have this property operating well above a 7.5% Cap Rate within 12-18 months. Market rents for Studios in this area are between $650-750/mo!
Sold
Listed by:
JORDAN SPARKS 541-646-0650,
Smi Real Estate
$2,000,000
124 N 2nd St, Klamath Falls, OR 97601
5beds
51baths
23,244sqft
Multi Family
Built in 1969
-- sqft lot
$2,141,300 Zestimate®
$86/sqft
$-- HOA
What's special
Zillow last checked: 7 hours ago
Listing updated: October 18, 2023 at 09:25am
Listed by:
JORDAN SPARKS 541-646-0650,
Smi Real Estate
Bought with:
JORDAN SPARKS
Smi Real Estate
Source: WVMLS,MLS#: 808363
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 51
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
Interior area
- Total structure area: 23,244
- Total interior livable area: 23,244 sqft
Property
Features
- Exterior features: Blue
Lot
- Size: 0.73 Acres
Details
- Zoning: GC
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- New construction: No
- Year built: 1969
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Water Connected
Community & neighborhood
Location
- Region: Klamath Falls
- Subdivision: Klamath Falls Original
Other
Other facts
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional,1031 Exchange