Investor Alert! This 4-unit income property on 2.48 acres with RR5 zoning in Cave Junction is a rare find. The property includes 3 income-producing units plus one recently remodeled and currently vacant unit, perfect to live in while collecting rents from the others, or lease all four for maximum return. Features include two 1 bed/1 bath cottages renting at $825 each, a refreshed 2 bed/1 bath cottage (previously rented at $875) with new appliances and flooring, and a 2 bed/1 bath 1,056 sq. ft. modular home renting for $1,000. Supported by a shared well and two septic systems, all tenants are on month-to-month agreements. Conveniently located off Hwy 199 next to the fire station, this strong income producer delivers immediate cash flow with excellent potential for future value-add. Don't miss this solid investment! Owner Will Carry!
Active
$299,000
701 Caves Hwy, Cave Junction, OR 97523
6beds
0baths
2,336sqft
Est.:
Quadruplex, Multi Family, Manufactured Home
Built in 1970
-- sqft lot
$-- Zestimate®
$128/sqft
$-- HOA
What's special
New appliancesVacant unit
- 74 days |
- 1,171 |
- 73 |
Zillow last checked: 8 hours ago
Listing updated: November 05, 2025 at 02:03pm
Listed by:
eXp Realty, LLC 888-814-9613
Source: Oregon Datashare,MLS#: 220208860
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 0
- Full bathrooms: 1
Heating
- Electric
Cooling
- None
Appliances
- Included: Oven, Refrigerator
Features
- Flooring: Vinyl
- Has fireplace: No
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 2,336
- Total interior livable area: 2,336 sqft
Property
Parking
- Parking features: Driveway, Shared Driveway
- Has uncovered spaces: Yes
Features
- Levels: One
- Stories: 1
Lot
- Size: 2.48 Acres
- Features: Level
Details
- Additional structures: Shed(s), Storage
- Parcel number: R330405
- Zoning description: Rr5; Rural Res 5 Ac
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Bungalow
- Property subtype: Quadruplex, Multi Family, Manufactured Home
Materials
- Frame
- Foundation: Block, Pillar/Post/Pier
- Roof: Composition
Condition
- New construction: No
- Year built: 1970
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
- Subdivision: Josephine Addition To Grants Pass
HOA
- Has HOA: No
Location
- Region: Cave Junction
Financial & listing details
- Price per square foot: $128/sqft
- Tax assessed value: $324,820
- Annual tax amount: $1,886
- Date on market: 11/5/2025
- Cumulative days on market: 74 days
- Listing terms: Cash,Conventional,Owner Will Carry,Private Financing Available
- Inclusions: Oven -Refrigerator in each unit
- Exclusions: Tenants Property
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
$1,484/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 11/5/2025 | Listed for sale | $299,000$128/sqft |
Source:  Oregon Datashare #220208860 Report a problem | ||
| 10/13/2025 | Pending sale | $299,000$128/sqft |
Source: Oregon Datashare #220208860 Report a problem | ||
| 9/6/2025 | Listed for sale | $299,000+15.4%$128/sqft |
Source: Oregon Datashare #220208860 Report a problem | ||
| 9/30/2024 | Sold | $259,000$111/sqft |
Source: Oregon Datashare #220189793 Report a problem | ||
| 9/18/2024 | Pending sale | $259,000$111/sqft |
Source: Oregon Datashare #220189793 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2019 | $1,590 | $156,830 +3% |
| 2018 | $1,590 +2.1% | $152,270 +3% |
| 2017 | $1,558 +21.8% | $147,840 +3% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$1,684/mo
Principal & interest
$1452
Property taxes
$127
Home insurance
$105
Climate risks
Neighborhood: 97523
Nearby schools
GreatSchools rating
- 7/10Lorna Byrne Middle SchoolGrades: 5-8Distance: 0.7 mi
- 8/10Illinois Valley High SchoolGrades: 9-12Distance: 0.6 mi
- 6/10Evergreen Elementary SchoolGrades: K-4Distance: 1.2 mi
Schools provided by the listing agent
- Elementary: Evergreen Elem
- Middle: Lorna Byrne Middle
- High: Illinois Valley High
Source: Oregon Datashare. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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