529 RAILROAD ST, Brookings, OR 97415
- $1,295,000
- 6,812
- SqFt
- List Price
- $1,295,000
- Status
- ACTIVE
- Days on Market
- 62
- Price Change
- ▼ $30,000 1788908169
- MLS#
- 381662052
- Year Built
- 1973
- Living Area
- 6,812
- MLS Area Major
- Curry Co: City, Airport, Marina Hts, NB Chetco
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 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!
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Additional Information
- Zoning
- R3
- Stories
- 2
- Parking
- Carport, Driveway
- Parking Features
- Carport, Driveway
- Elementary School
- Kalmiopsis
- Middle School
- Azalea
- High School
- Brookings-Harbr
- View
- Mountain(s), Territorial
Listing courtesy of John L. Scott Medford.
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