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Browse More Listings in Multifamily For Sale, Lebanon, OR or Oregon

Multifamily Property For Sale

Parkside Apartments

2900 South Main Road, Lebanon, OR 97355

Price:
$8,720,000
No. Units:
96
Building Size:
98,486 SF
Price/Unit:
$90,833.33
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
6%
Year Built:
2009
Lot Size:
4.83 AC
Parking Ratio:
2.53 / 1,000 SF
Find Out More...

Last Verified 10/23/2009 Listing ID 16389598

Highlights

Brand new property
high quality construction
located near center of town and large city park

On site office, basketball court. tot lots and picnic areas
very large units
private location

Description

Parkside Apartments is a brand new 96 unit apartment project located in the heart of Lebanon, Oregon. The unit mix consists of 22 one bedroom/one bath flats, 58 two bedroom/two bath flats, and 16 three bedroom/two bath flats. All units include patio/decks with storage, washer & dryer and some with vaults. The common areas include a playground, basketball court, tot lots and picnic areas. On site office building and 70 covered parking stalls with 28 garages. An excellent investment grade income property.

Located on the west side of South Main Rd. between Hobbs Street and West Cedar Drive, just west of Santiam Hwy. 20.

Financial Summary

Unit Mix Information

Proforma
Year
2009
Scheduled Gross Income
$864,600
Effective Gross Income
$846,450
Operating Expenses
$323,413
Net Operating Income
$523,037

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
one bed/one bath	22	$625	852
two bed/two bath	58	$750	1,037
three bed/two bath	16	$925	1,172

Map of 2900 South Main Road, Lebanon, OR 97355 (Linn County)

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Presented by

Commercial Associates

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Contact Listing Broker

Alan Wells (541) 754-6320

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Created 9/10/2009

Additional Information for 2900 S Main Road, Lebanon, OR 97355

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Parkside Apartments

2900 South Main Road, Lebanon, OR, 97355