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Gateway Real Estate
529 Railroad Street, Brookings, OR 97415
- $1,245,000
- List Price
- $1,245,000
- Price Change
- ▼ $155,000 1792813728
- MLS#
- 220225188
- Status
- ACTIVE
- City
- Brookings
- County
- Curry
- Year Built
- 1973
Property Description
Attention investors! Housing shortage! Highly profitable, centrally located 8-plex close to the coast & walking distance to the iconic Chetco Point! At list price, this turn-key asset operates at a strong 8%+ CAP Rate (includes projected rent from owners unit). Seven of the units offer spacious 2 bed, 1 bath open floorplans and one of the units is a 1 bed, 1 bath. Coin operated laundry room generates consistent ancillary income. Rents are currently $1325, $1320, $1418, $1450, $1450, $1295, $825.50, & owners remodeled premium unit (beautifully updated in 2022-2023) is expected to rent at $1500 per month. Owner pays for sewer, water, & trash. Each unit has its own power meter (tenants pay for their own electricity) & detached carport includes 1 dedicated covered parking space to each tenant. Owner spared no expense after purchasing this property by painting the exterior, remodeling multiple units, & much more!
Additional Information
- Taxes
- $3,939
- Acres
- 0.29
- View
- Mountain(s), Neighborhood
- Water
- Public, Private
- Heating
- Baseboard, Electric
- Foundation
- Slab
- Flooring
- Carpet, Laminate, Other
- Elementary School
- Kalmiopsis Elem
- Middle School
- Azalea Middle
- High School
- Brookings-Harbor High
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Listing courtesy of John L. Scott Medford.
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