MLS# 189796170 – 851 W 5th Ave, Eugene, OR 97402 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Bridge Creek Realty.

Property Description

Description

8 Units

Status: Active

Year Built: 1968

Days on Website: 27

Investor Opportunity! This 8-unit apartment building is only 2 miles from the University of Oregon campus and boasts a 6.13% cap rate on current income. All units are 2-bed/1-bath, 648 sqft. Amenities include on-site laundry, 10 parking spots and shared balconies. Recent upgrades include new exterior paint, new flooring, new cabinets and updated bathrooms in select units. A new owner could recapture $4,800/year by implementing utility bill-backs. Don't miss out on this opportunity!

Property Details and Features

Building

Built in 1968

Stories:

Unit Type Type:

UnitTypeType1

Expenses

Operating Expense Scheduled:

40980

Operating Expense:

$39,655

Exterior Features

Exterior Description:

WoodComposite

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

6.13

Gross Income:

$125,430

Gross Rent Multiplier:

11.16

Gross Scheduled Income:

$141,478

Net Operating Income:

$85,774

Net Scheduled Income:

100498

Listing

Contract Status Change Date:

2025-01-29

Days On Market:

Last Transaction Date:

2025-01-29 16:27:32

List Price:

$1,400,000

Listing Contract Date:

2025-01-29

Listing Id:

189796170

Mls Status:

Active

Modification Timestamp:

2025-01-29 16:27:32

On Market Date:

2025-01-29

Rent Includes:

MaintenanceGrounds,Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_245

County Or Parish:

Lane

Lot

Size Acres:

0.22

Size Range:

SqFt7000to9999

Size Square Feet:

9,583

Size:

7,000 to 9,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Property Condition:

Existing

Zoning:

Schools

Middle Or Junior School:

Kelly

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$9,352

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,370

Area:

648

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$1,400,000 -

851 W 5th Ave Eugene , OR 97402

MLS Area Major: _245

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on February 25, 2025 11:43AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.