This property is Off-Market

1331 Avalon Street
Klamath Falls, OR 97601 ·

36 Units · Multifamily For Sale

N/A

Print

Shangri La

Price N/A Property Sub-type Government Subsidized
No. Units 36 Property Use Type Investment
Building Size 25,600 SF Cap Rate 5.55%
Property Type Multifamily Year Built 1972
Listing ID: 15270118 Date Created: 08/02/2007 Last Updated: 08/02/2007

Description

A 36-unit apartment complex was developed in 1972 and operates under Section 236 of the National Housing Act subject to the Emergency Low-Income Preservation Act of 1987 (Title II) and pursuant to a Project-Based Section 8 Housing Assistance Payments (HAP) Contract for the benefit of low-income families. The HAP contract is renewed annually. Under the terms of Title II, an owner may prepay the mortgage and under specific conditions terminate the low-income affordability restrictions. Shangri La Apartments has been under contiguous ownership since it's development in 1972. ELIHPA use agreement expires 12/1/2012.

Klamath Falls is located south central region of Oregon and bordering northern California. Klamath Falls sits on the southern shore of the Upper Klamath Lake, nestled in the Klamath Basin on the eastern slopes of the Cascade Mountains. Klamath Falls enjoys nearly 300 days of sunshine each year. The City of Klamath Falls has an urban population of approximately 42,000.

Research

1331 Avalon Street, Klamath Falls, OR 97601 (Klamath County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Klamath Falls Market Trends - Asking price index trends, sale price trends, asking rent trends

Demographics - Review demographics in this neighborhood

Similar Listings

  • 2544 Union Avenue
    2544 Union Avenue

    Klamath Falls, OR 97601

    For Sale · $1,500,000

    19,380 SF Building

    Garden/Low-Rise

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

I am a place holder, please don't judge me!!! (no, I judge you!)