MLS# 24613061 – 315 S 2nd St, Coos Bay, OR 97420 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Pacific Properties.

Property Description

Description

13 Units

Status: Pending

Year Built: 1930

Neighborhood: Downtown

Days on Website: 229

Whoa! This is like Yosemite's Half Dome; the upside to this investment opportunity is steep! The rents are about half of market rent but then again the building could use some help from the likes of Tim Allen of Home Improvement or Joanna Gaines for you Millennials. The location is super ideal, like Wall Street, only it's Coos Bay. Didn't think you could ever afford a 13-unit apartment building - now you can! 10-units currently occupied. All one-bedroom units, common laundry. No rent increases for 3+ years. Same owner for 35+ years and has been owner managed for 80+ years. Rents include: hot water (natural gas), washer/dryer, (not coin-op), and garbage.

Property Details and Features

Building

Built in 1930

Stories:

Unit Type Type:

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

Expenses

Operating Expense Scheduled:

84604

Operating Expense:

$16,196

Exterior Features

Exterior Description:

Asbestos

Heating

Heating Available

Heating:

Zoned

Income

CAP Rate:

9.05

Gross Income:

$47,882

Gross Rent Multiplier:

7.31

Gross Scheduled Income:

$100,800

Net Operating Income:

$31,686

Net Scheduled Income:

16196

Listing

Contract Status Change Date:

2024-04-08

Last Transaction Date:

2024-04-08 15:26:10

List Price:

$350,000

Listing Contract Date:

2024-04-08

Listing Id:

24613061

Mls Status:

Pending

Modification Timestamp:

2024-11-23 01:40:46

Off Market Date:

2024-04-08

On Market Date:

2024-04-08

Purchase Contract Date:

2024-04-08

Rent Includes:

Gas,TrashCollection

Standard Status:

Pending

Location

MLS Area Major:

_260

Subdivision Name:

Downtown

County Or Parish:

Coos

Lot

Features:

FloodZone,PublicRoad

Size Acres:

0.16

Size Dimensions:

approx 50' x 140'

Size Range:

SqFt7000to9999

Size Square Feet:

6,969

Size:

7,000 to 9,999 SqFt

Parking

1 total parking spot

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

Fixer

Property View

Zoning:

Schools

High School:

Marshfield

Middle Or Junior School:

Millicoma

Elementary School:

Coos Bay

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$3,576

Legal Description

Tax Deferral

Tax Year:

2023

Unit One

Actual Rent:

$530

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$540

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$515

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Four

Actual Rent:

$500

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Five

Actual Rent:

$250

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Six

Actual Rent:

$470

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Seven

Actual Rent:

$507

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Eight

Actual Rent:

$439

Area:

400

Features:

Range,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Nine

Actual Rent:

$500

Area:

400

Features:

Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Ten

Area:

400

1 total bathroom

1 total bedroom

Utilities

Fuel Description:

Electricity,Gas

Hot Water Description:

Gas,Tank

Water Source:

PublicWater

[+] Read More

Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$350,000 -

315 S 2nd St Coos Bay , OR 97420

MLS Area Major: _260

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 22, 2024 10:50PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.