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Kern Building 125 S 6th St 8 Unit Apartment Building $3,100,000 ($387,500/Unit) 6.59% Cap Rate Klamath Falls, OR 97601
INVESTMENT HIGHLIGHTS
- Multiple Tenants and Low Vacancy
- Excellent condition
- Single long-term tenant with minimal use on the 2nd floor residences (OHSU medical housing)
EXECUTIVE SUMMARY
Prime investment opportunity in the heart of downtown Klamath Falls, southern Oregon. This fully occupied multi-tenant mixed use commercial building offers an excellent mix of long-term tenants including OHSU (Oregon Health Sciences University) residency housing on the recently remodeled 2nd-floor apartments, plus retail and professional offices on the ground level. Current tenants include a chiropractor, property management company, attorney, insurance agent, and retail shops. The building is in excellent condition with numerous updates including a shared elevator. Beautiful building with strong curb appeal. Included in the sale is the adjacent parking lot on a separate tax lot, providing convenience and added value. With a cap rate of 6.5% and a stable tenant base, this property is a solid addition to any investment portfolio. Please do not disturb tenants. Contact listing agent at ayork@windermere.com for rent roll and APOD. Leases and showings will be made available as part of buyer's due diligence. Owner will not carry. No showings until after an accepted offer. Do Not Disturb Tenants.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$253,825
|
$12.23
|
| Other Income |
$16,624
|
$0.80
|
| Vacancy Loss |
$5,902
|
$0.28
|
| Effective Gross Income |
$264,547
|
$12.74
|
| Taxes |
$7,999
|
$0.39
|
| Operating Expenses |
$47,409
|
$2.28
|
| Total Expenses |
$55,408
|
$2.67
|
| Net Operating Income |
$209,139
|
$10.08
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $253,825 |
| Annual Per SF | $12.23 |
| Other Income | |
|---|---|
| Annual | $16,624 |
| Annual Per SF | $0.80 |
| Vacancy Loss | |
|---|---|
| Annual | $5,902 |
| Annual Per SF | $0.28 |
| Effective Gross Income | |
|---|---|
| Annual | $264,547 |
| Annual Per SF | $12.74 |
| Taxes | |
|---|---|
| Annual | $7,999 |
| Annual Per SF | $0.39 |
| Operating Expenses | |
|---|---|
| Annual | $47,409 |
| Annual Per SF | $2.28 |
| Total Expenses | |
|---|---|
| Annual | $55,408 |
| Annual Per SF | $2.67 |
| Net Operating Income | |
|---|---|
| Annual | $209,139 |
| Annual Per SF | $10.08 |
PROPERTY FACTS
| Price | $3,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $387,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 6.59% | Building Size | 20,758 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1920/1990 |
| Property Type | Multifamily | Parking Ratio | 0.77/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | GC - General Commercial (Note: No County records on year built, which is estimated as 1920 and completely renovated in the 1990's) | ||
| Price | $3,100,000 |
| Price Per Unit | $387,500 |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| Sale Condition | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.33 AC |
| Building Size | 20,758 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/1990 |
| Parking Ratio | 0.77/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | GC - General Commercial (Note: No County records on year built, which is estimated as 1920 and completely renovated in the 1990's) |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
- Vacuum System
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gameroom
- Elevator
- Smoke Detector
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $606,760 | |
| Land Assessment | $0 | Annual Taxes | $7,999 ($0.39/SF) |
| Improvements Assessment | $595,140 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$595,140
Total Assessment
$606,760
Annual Taxes
$7,999 ($0.39/SF)
Tax Year
2025
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Kern Building | 125 S 6th St
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