MLS# 608303244 – 777 Hemlock Ave, Coos Bay, OR 97420 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Pacific Coast Real Estate & Development, LLC.

Property Description

Description

17 Units

Status: Active

Year Built: 1961

Days on Website: 17

Beautiful, updated apartment complex in excellent Coos Bay location. Featuring nine residential units and eight storage units this property is generating excellent income with long term tenancy and low vacancies. Functional layout with mostly two bedroom 1 bath units with private yards and parking. Units have been tastefully updated with high quality finishes and fixtures with beautiful touches throughout. The structures have had many recent updates including roof, siding, windows, paint etc.. and has been meticulously maintained. All units are individually metered units for both power and water as well as an on site laundry room to maximize the income potential. This property is set up with limited management and owner responsibilities and ideal for 1031 tax exchange. Call today for details and rent roll.

Property Details and Features

Property Access

Road Surface Type:

Paved

Basement

Basement:

Other

Building

Building Area Total:

7026

Built in 1961

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Community

Community Features:

AllLandscaping,Laundry

Expenses

Operating Expense:

$27,969

Exterior Features

Exterior Description:

CementSiding

Foundation

Foundation Details:

Slab

Garage

Garage Spaces:

Heating

Heating Available

Heating:

Zoned

Income

CAP Rate:

7.59

Gross Income:

$206,388

Gross Rent Multiplier:

11.39

Net Operating Income:

$178,419

Listing

Contract Status Change Date:

2025-01-10

Days On Market:

Last Transaction Date:

2025-01-13 14:20:10

List Price:

$2,350,000

Listing Contract Date:

2025-01-10

Listing Id:

608303244

Mls Status:

Active

Modification Timestamp:

2025-01-13 14:20:10

On Market Date:

2025-01-10

Rent Includes:

None

Standard Status:

Active

Location

MLS Area Major:

_260

County Or Parish:

Coos

Lot

Features:

Level

Size Acres:

0.48

Size Dimensions:

20,900

Size Range:

SqFt20000toAcres1

Size Square Feet:

20,908

Size:

20,000 SqFt to .99 Acres

Miscellaneous

Investor Information:

AccordingToOwner,Leases,ProfitLossStatement

Parking

Features:

OffStreet

10 total parking spots

Property

Number Of Units Total:

Property Condition:

Approximately

Property View

Zoning:

R-3

Roof

Roof:

Membrane

Schools

Middle Or Junior School:

Coos Bay

Security Features

Features:

Sidewalk

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$6,063

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,495

Area:

878

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$1,595

Area:

878

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$150

Area:

150

Features:

Storage

Units Total:

Unit Four

Actual Rent:

$1,300

Area:

620

Units Total:

1 total bathroom

Utilities

Fuel Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$2,350,000 -

777 Hemlock Ave Coos Bay , OR 97420

MLS Area Major: _260

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on January 26, 2025 11:46PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.