MLS# 23369186 – 1127 6th Ave Se, Albany, OR 97321 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Property Description

Description

11 Units

Status: Active

Year Built: 1992

Days on Website: 381

Prime Investment: The Station features 11 trendy move-in ready units, boasting a 5.9% cap rate - $212,000 gross income and $166,565 NOI. Extensive upgrades including electrical, plumbing, HVAC, windows, siding, kitchens, bathrooms, parking lot, bike storage, onsite laundry, and new stormwater and fire suppression systems. Unlock additional income with 3 more unfinished units, for a total of 14 doors, not including rentable storage, and a large 1.4 acre lot with space for more construction in the rear.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

None

Building

Building Area Total:

9039

Built in 1992

Storage:

Attached,Garage

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType10,UnitTypeType2,UnitTypeType3,UnitTypeType4,UnitTypeType5,UnitTypeType6,UnitTypeType7,UnitTypeType8,UnitTypeType9

Community

Community Features:

Laundry

Disclosures

Disclosures:

Disclosure

Expenses

Operating Expense:

$45,283

Foundation

Foundation Details:

Slab

Heating

Heating Available

Heating:

WallFurnace

Income

CAP Rate:

7.93

Gross Income:

$218,400

Gross Rent Multiplier:

9.62

Net Operating Income:

$166,565

Listing

Contract Status Change Date:

2023-12-06

Days On Market:

380

Last Transaction Date:

2024-07-19 15:31:00

List Price:

$2,100,000

Listing Contract Date:

2023-12-06

Listing Id:

23369186

Mls Status:

Active

Modification Timestamp:

2024-08-06 03:30:00

On Market Date:

2023-12-06

Previous List Price:

$2,390,000

Rent Includes:

None

Standard Status:

Active

Location

MLS Area Major:

_221

County Or Parish:

Linn

Lot

Features:

Level

Size Range:

Acres1to3

Size:

1 to 2.99 Acres

Miscellaneous

Investor Information:

Leases,ProfitLossStatement

Parking

Features:

Open,Paved

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Property View

Zoning:

Schools

High School:

West Albany

Middle Or Junior School:

Memorial

Elementary School:

Waverly

Security Features

Features:

FireSprinklerSystem,Sidewalk

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$11,616

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$950

Area:

448

Features:

Disposal,Range,Refrigerator

Units Total:

1 total bathroom

Unit Two

Actual Rent:

$1,000

Area:

712

Features:

Disposal,Range,Refrigerator

Units Total:

1 total bathroom

Unit Three

Actual Rent:

$1,295

Area:

527

Features:

Disposal,Range,Refrigerator

Units Total:

1 total bathroom

Unit Four

Actual Rent:

$1,395

Area:

485

Features:

Disposal,Range,Refrigerator

Units Total:

1 total bathroom

Unit Five

Actual Rent:

$1,495

Area:

468

Features:

Disposal,Range,Refrigerator

Units Total:

1 total bathroom

Unit Six

Actual Rent:

$1,495

Area:

525

Units Total:

1 total bathroom

Unit Seven

Actual Rent:

$1,495

Area:

652

Units Total:

1 total bathroom

Unit Eight

Actual Rent:

$1,895

Area:

1370

Units Total:

2 total bathrooms

2 total bedroom

Unit Nine

Actual Rent:

$1,995

Area:

1206

Units Total:

2 total bathrooms

3 total bedroom

Unit Ten

Actual Rent:

$1,000

Area:

675

Features:

Storage

Utilities

Fuel Description:

Gas

Hot Water Description:

Gas

Water Source:

PublicWater

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1127 6th Ave Se Albany , OR 97321

Property Description

Description

Open House

Open House

Property Details and Features

Property Details and Features

Contact an Agent

John Wesley McPherson, Jr., CFA

Location

Street View

Nearby Schools

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