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Hillview Condominiums 230 Grant St 10 Unit Apartment Building $2,250,000 ($225,000/Unit) 4.38% Cap Rate Ashland, OR 97520
Investment Highlights
- Seller Financing Available; Minimum Short-Term AFR
- Rents Increased August 2026
- Ten, Six, or Four-Unit Investment Opportunity
- Stable Long-Term Tennancy
Executive Summary
Ten, six, or four-unit investment opportunity in Ashland's Hillview Condominiums near Scenic Park and Asante Ashland.
Seller-carried financing available at ~3.99% AFR with 50% down, interest-only payments, with balloon due in three years. Each unit ranges from 1,034 to 1,174 SqFt with two bedrooms, one full bath, open living and dining space, high ceilings, in-unit laundry, kitchen with granite counters and all appliances included, dedicated parking, storage, and access to landscaped common areas. Ground-level units with fully fenced private backyards and poured concrete patios. Current gross monthly income is $15,730 across all ten units following rent increases effective August 1st, 2026. Stable tenancy averaging four-plus years, room for further rent growth, and association-maintained exterior building components including roofs, siding, paint, and landscaping. Complete investment analysis, rent roll, association documents, and due diligence materials available upon request.
Seller-carried financing available at ~3.99% AFR with 50% down, interest-only payments, with balloon due in three years. Each unit ranges from 1,034 to 1,174 SqFt with two bedrooms, one full bath, open living and dining space, high ceilings, in-unit laundry, kitchen with granite counters and all appliances included, dedicated parking, storage, and access to landscaped common areas. Ground-level units with fully fenced private backyards and poured concrete patios. Current gross monthly income is $15,730 across all ten units following rent increases effective August 1st, 2026. Stable tenancy averaging four-plus years, room for further rent growth, and association-maintained exterior building components including roofs, siding, paint, and landscaping. Complete investment analysis, rent roll, association documents, and due diligence materials available upon request.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$201,973
|
$18.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,099
|
$0.90
|
| Effective Gross Income |
$191,874
|
$17.12
|
| Taxes |
$33,407
|
$2.98
|
| Operating Expenses |
$59,832
|
$5.34
|
| Total Expenses |
$93,239
|
$8.32
|
| Net Operating Income |
$98,635
|
$8.80
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $201,973 |
| Annual Per SF | $18.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,099 |
| Annual Per SF | $0.90 |
| Effective Gross Income | |
|---|---|
| Annual | $191,874 |
| Annual Per SF | $17.12 |
| Taxes | |
|---|---|
| Annual | $33,407 |
| Annual Per SF | $2.98 |
| Operating Expenses | |
|---|---|
| Annual | $59,832 |
| Annual Per SF | $5.34 |
| Total Expenses | |
|---|---|
| Annual | $93,239 |
| Annual Per SF | $8.32 |
| Net Operating Income | |
|---|---|
| Annual | $98,635 |
| Annual Per SF | $8.80 |
Property Facts
| Price | $2,250,000 | Building Class | B |
| Price Per Unit | $225,000 | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 11,208 SF |
| Cap Rate | 4.38% | Average Occupancy | 90% |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 2 |
| No. Units | 10 | Year Built/Renovated | 2003/2026 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Apartment | Cross Streets | N Main St |
| Apartment Style | Townhome | ||
| Zoning | R-2 - R-2 zoning district is designated for residential areas suitable for urban living, specifically designed for intermediate residential densities. | ||
| Price | $2,250,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 4.38% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 11,208 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 2003/2026 |
| Parking Ratio | 0.89/1,000 SF |
| Cross Streets | N Main St |
| Zoning | R-2 - R-2 zoning district is designated for residential areas suitable for urban living, specifically designed for intermediate residential densities. |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Yard
- Breakfast Nook
- Double Pane Windows
- Garden
- Lawn
- Office
- Patio
- Porch
- Smoke Free
- Large Bedrooms
Site Amenities
- Courtyard
- Picnic Area
- Recycling
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | $1,565 | 1,034 - 1,174 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $3,003,140 | |
| Land Assessment | $0 | Annual Taxes | $33,407 ($2.98/SF) |
| Improvements Assessment | $0 | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,003,140
Annual Taxes
$33,407 ($2.98/SF)
Tax Year
2026
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Hillview Condominiums | 230 Grant St