MLS# 24640649 – 721 W 5th Ave, Eugene, OR 97402 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Keller Williams Realty Eugene and Springfield.

Property Description

Description

4 Units

Status: Active

Year Built: 1910

Neighborhood: Whiteaker

Days on Website: 50

Amazing opportunity to acquire a 4 unit apartment in the heart of the Whiteaker neighborhood. This property is being sold in conjunction with 737 & 739 W 5th, directly next door to the west, MLS #24415328. With two units per floor, this property also features a full basement with it's own exterior entry. Leading down the basement stairs reveals a common area with a community washer & dryer, and a separate un-permitted 2 bedroom apartment with a full bathroom and kitchen. This property has been well maintained throughout the years and boasts vinyl windows, updated plumbing & electrical, including 5 brand new electrical panels installed in September of 2024. Each unit has its own meter and water heater, with a separate water heater for the laundry and down stairs apartment. All rents are drastically below market, as the sellers have rarely raised rents throughout the years and all tenants are long term residents. Physical inspection of property with an accepted offer.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

ExteriorEntry,PartiallyFinished,SeparateLivingQuartersApartmentAuxLivingUnit

Building

Building Area Total:

3453

Built in 1910

Storage:

Basement,IndividualStorageUnits

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Community

Community Features:

Commons,Laundry

Cooling

Cooling:

None

Expenses

Operating Expense:

$6,000

Exterior Features

Exterior Description:

WoodSiding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

Baseboard,Zoned

Income

CAP Rate:

3.58

Gross Income:

$33,000

Gross Rent Multiplier:

22.88

Net Operating Income:

$27,000

Listing

Contract Status Change Date:

2024-10-01

Days On Market:

Last Transaction Date:

2024-10-01 18:03:38

List Price:

$755,000

Listing Contract Date:

2024-10-01

Listing Id:

24640649

Mls Status:

Active

Modification Timestamp:

2024-11-21 01:23:05

On Market Date:

2024-10-01

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_245

Subdivision Name:

Whiteaker

County Or Parish:

Lane

Lot

Features:

Level

Size Acres:

0.12

Size Range:

SqFt5000to6999

Size Square Feet:

5,227

Size:

5,000 to 6,999 SqFt

Miscellaneous

Investor Information:

AccordingToOwner,Leases,RentRecords

Parking

Features:

OffStreet,OnStreet

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

UpdatedRemodeled

Zoning:

R-3

Roof

Roof:

Composition

Schools

High School:

North Eugene

Middle Or Junior School:

Kelly

Elementary School:

River Road

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$4,185

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$700

Area:

643

Features:

HardwoodFloors,Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$700

Area:

600

Features:

HardwoodFloors,Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$700

Area:

643

Features:

HardwoodFloors,Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Unit Four

Actual Rent:

$650

Area:

600

Features:

HardwoodFloors,Range,Refrigerator,Storage

Units Total:

1 total bathroom

1 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$755,000 -

721 W 5th Ave Eugene , OR 97402

MLS Area Major: _245

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 21, 2024 12:08AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.