124 N 2nd StKlamath Falls, OR97601
$2,000,000
51 total units
5 bedrooms
23244 sq. ft
0.73 acres
268 days on market
VestorFilter™
Price per unit$39.2K/unit
Price per ft²$86.04/ft²
Price per acre$2.74M/ac
Price per bedroom$400K/bed
Time on market268 days
Property Description
51 Unit value-add opportunity, only $39K/door! Located in downtown Klamath Falls, OR with views of Lake Ewauna! Affordable housing is in high demand & a near 40% vacancy rate will allow for quick stabilization upon Refi. Majority of vacant units are rent ready & could be HUD approved with minimal upgrades. New management and Cap-Ex improvements performed in year 1 will have this property operating well above a 7.5% Cap Rate within 12-18 months. Market rents for Studios in this area are between $650-750/mo!
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Financial Data
Original Price$2,000,000
Current Price$2,000,000
Property Taxes$20,793
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Home Facts
StatusActive
Year Built1969
MLS ID808363
