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248 South ST #1 - 9 Butte Falls, OR 97522
0.43 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 220217327
Year Built 2000
Annual Tax Amount $8,574
Lot Size 0.430 Acres
Acres 0.43
Lot Dimensions 0.43
Property Description
residential multifamily in Butte Falls: three two-story buildings, ±6,200 SF on 0.43 acres, built 2002. All nine units occupied; Unit C3 (2BR/1BA, 900 SF) has been fully refurbished with new flooring, windows, paint, and appliances. Price per unit: $68,778. Approximately 47-48% of gross income is HUD Section 8 HAP -- a reliable rental income floor. All units separately metered electric. Owner pays water/sewer, garbage, and common-area utilities. Central air, forced-air electric heat, vinyl double-pane windows, private storage shed per unit, 18 parking spaces. Pro Forma Stabilized NOI ≈ $44,300 at current rent roll (7.16% cap at $619K); ≈ $55,600 with Unit C3 now leased (≈8.99% cap). Value-add upside on B1 and B2 at next turnover. Seller has secured updated insurance quotes from a carrier willing to underwrite at reasonable rates -- available on request. Butte Falls is ~30 miles from Medford; local property management options available.
Location
State OR
County Jackson
Interior
Heating Electric, Forced Air
Cooling Central Air
Window Features Double Pane Windows,Vinyl Frames
Exterior
Parking Features No Garage, Shared Driveway
Roof Type Composition
Building
Foundation Pillar/Post/Pier, Stemwall
Water Public
Level or Stories Two
Structure Type Frame
New Construction No
Others
Senior Community No
Tax ID 10705254
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Coldwell Banker Pro West R.E.
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