205 6th Ave SE | Albany, OR 97321
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- LoopNet Team
205 6th Ave SE
Albany, OR 97321
Sheridan Plaza · Multifamily Property For Sale
·
33 Units
INVESTMENT HIGHLIGHTS
- Property favorably priced @ $5,175,000 (below appraised value of $5,350,000 - October, 2024)
- Approximately $1,050,000 in capital improvements/renovations have been completed since 2021
- Subject property is located in a quiet residential area mostly comprised of single-family homes & walking distance to restaurants & shops
- 6.59% CAP on actuals - Estimated 7.61% CAP @ projected full market rents
- Turnover rents average increase up $75 to $100 per unit (in 2025 so far)
- NOTE: Seller intends on completing a 1031 exchange into a larger property (see seller's other listing @ 2447 Roosevelt Boulevard Eugene, OR 97402)
PROPERTY FACTS
| No. Units | 33 | Building Size | 26,034 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1963/2023 |
| Building Class | C | Parking Ratio | 1.06/1,000 SF |
| Lot Size | 0.66 AC | ||
| Zoning | HM - 701 - Multi-Family Improved | ||
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.66 AC |
| Building Size | 26,034 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | HM - 701 - Multi-Family Improved |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Walking/Biking Trails
- Storage Space
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,225 | 654 |
| 1+1.5 | 1 | $1,295 | 728 |
| 2+1 | 24 | $1,395 | 814 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,833,910 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,833,910
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