747 Front St, Klamath Falls, OR 97601

Rare opportunity to own lake-front and bring in over $3600/month in rents with two multi-family properties for sale. Property number one is 747 Front St, which is a duplex, that has a 3br 2.5ba home and an attached 635sqft apartment that can be used as an extended family unit or rental unit, which was fully restored in 2017. This building features two hundred plus feet of shoreline of the link river, almost ½ acre of land with a 180 degree view of Upper Klamath Lake, Link River and Putnam’s Point and a dock with a Kayak launch. If you like wildlife there are plenty of photographic opportunities with Eagles, Pelicans and Bucks that frequent the property all year long. Attached apartment features all the amenities of a 1br, 1ba unit, with full kitchen, dishwasher, laundry room with natural gas hookups for both the dryer and stove should the buyer want to upgrade the stove in the future. There are three skylights, vaulted ceilings, highlight lighting and a private entrance for this unit and is completely sound proofed from the main residence with two walls and two layers of insulation and two plies of 5/8” sheetrock. This unit is currently renting for $975/month. Main house has had an interior remodel from top to bottom all having been done from 2017 to present. There are three spacious bedrooms, 2 and ½ baths, a family room, a loft with a balcony, plenty of storage space, an unfinished basement that serves as both a cold storage pantry and fish preparation area, and two garage storage units. All the appliances in the kitchen have been replaced and granite countertops have recently been installed. The only carpet is on the stairs, the rest is top of the line Pergo laminate flooring and floor tile. House also has a whole house vacuum system that has outlets on all three stories. Both the main house and granny unit have attic fans that keep the building cooler in the summer time. The main house is projected to rent for over $2500/month and is currently listed for rent at over $2600/month. Property number two is a 5-plex located at 531 N 11th Street, MLS #220183003. For more information and photos please refer to the listing. There are two buildings with four garaged parking spots and two off street parking spots for guests. The unit mix are two 2br/1ba and three 1br/1ba. Current rents are at $4560/month. In summary, the seller wants to sell the two properties at the same time to do a 1031 exchange in Idaho. So if the two are purchased at the same time, namely 747 Front St for $899,000 and 531 N 11th St for $649,000 the seller would consider selling both properties for $1,435,000. These two buildings have the upward potential for renting at over $8000/month and having lakefront property to boot. Don’t wait too long on this rare investment opportunity!!