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1310-1390 Spruce St 8 Unit Apartment Building $1,250,000 ($156,250/Unit) 3.55% Cap Rate Florence, OR 97439
Executive Summary
Opportunity awaits for investors seeking a reliable, income-producing property on the Central Oregon Coast. This offering features four fully rented duplexes, all situated in a convenient and central location with amenities nearby, making it an appealing choice for both tenants and owners.The property boasts a unique advantage as it backs up to the Munsel Creek bike path greenbelt. This setting provides a peaceful forest backdrop in the backyards of each duplex, enhancing the living experience for residents and adding value to the property. While all units are currently rented, there is additional opportunity for the new owner to increase rental income. Some rents have not yet been updated to reflect current market values, presenting potential for higher returns. Comprehensive financial information is available to qualified buyers upon request. For the privacy and comfort of current tenants, a 24-hour notice is required before any property viewing. Please respect the tenants and do not disturb them without prior arrangement.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,250,000 | Property Subtype | Apartment |
| Price Per Unit | $156,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 3.55% | Building Size | 9,364 SF |
| Gross Rent Multiplier | 16.48 | No. Stories | 1 |
| No. Units | 8 | Year Built | 2005 |
| Property Type | Multifamily | Parking Ratio | 0.85/1,000 SF |
| Zoning | HR | ||
| Price | $1,250,000 |
| Price Per Unit | $156,250 |
| Sale Type | Investment |
| Cap Rate | 3.55% |
| Gross Rent Multiplier | 16.48 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 9,364 SF |
| No. Stories | 1 |
| Year Built | 2005 |
| Parking Ratio | 0.85/1,000 SF |
| Zoning | HR |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 6 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 1403680 | Total Assessment | $133,440 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
1403680
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$133,440
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1310-1390 Spruce St
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