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2 Rental Homes 21620 Glaze Rd 2 Unit Apartment Building $435,000 ($217,500/Unit) 6.14% Cap Rate Veneta, OR 97487
Investment Highlights
- Two homes on one 0.72-acre lot in Veneta’s Noti area.
- Main home includes 3 bedrooms, 1.5 baths, and a two-car garage
- Second home offers rental or renovation potential for added value.
- Shared well with separate septic systems for each home.
- Move-in ready condition with patio and garden boxes.
Executive Summary
Offered at $435,000, this unique investment opportunity includes two homes situated on a single 0.72-acre lot in the Noti/Veneta area. The primary home offers 3 bedrooms, 1.5 baths, and 1,267 square feet of living space, complete with a two-car garage, patio, garden boxes, and yard. The second home features 2 bedrooms and 1 bathroom across 740 square feet, providing excellent potential for value-add improvements or rental income opportunity. Both homes share a well but have separate septic systems, offering flexibility for future use. Surrounded by a rural setting yet within reach of city amenities, this property delivers strong functionality for owner-occupiers, investors, or those seeking multigenerational living options. With livable condition in the main home and upside potential in the second, this is a compelling buy-and-hold or dual-income prospect.
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- Operating and Financials
Property Facts
| Price | $435,000 | Property Subtype | Apartment |
| Price Per Unit | $217,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 6.14% | Building Size | 1,267 SF |
| Sale Condition | Redevelopment Project | No. Stories | 1 |
| No. Units | 2 | Year Built | 1964 |
| Property Type | Multifamily | ||
| Zoning | RR5 - Residential | ||
| Price | $435,000 |
| Price Per Unit | $217,500 |
| Sale Type | Investment |
| Cap Rate | 6.14% |
| Sale Condition | Redevelopment Project |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 1,267 SF |
| No. Stories | 1 |
| Year Built | 1964 |
| Zoning | RR5 - Residential |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Fireplace
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Range
- Tub/Shower
- Yard
- Mud Room
- Vinyl Flooring
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Not walkable
10/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 0518900 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $249,746 |
Property Taxes
Parcel Number
0518900
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$249,746
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2 Rental Homes | 21620 Glaze Rd