529 Railroad St - $1,295,000! - 8-plex Close to the Coast!
$1,295,000
529 Railroad Street, Brookings, OR 97415
7.7
Cap Rate
6,912 sqft
Building Size
Details:
Highlights:
- 8-plex
- Walking distance to the iconic Chetco Point
- Coin operated laundry room
- Owner pays for sewer, water, & trash
- 7.7% CAP Rate
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 7.7% 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, $1250, $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.
Location
Gallery
