343 E 15th Ave 10 Unit Apartment Building $1,595,000 ($159,500/Unit) 5.99% Cap Rate Eugene, OR 97401

1479 High Street & 343 E 15th Avenue, Eugene Oregon - 9 Unit 2 Bed/ 1 Bath Apartment Building With Detached 3 Bed / 1 Bath House on single 0.29 Acre West University Neighborhood Tax-Lot
LOCATION:
The 1479 High Street Apartment Complex, commonly categorized as West campus alternative student hous-
ing, is ideally situated a short walk or biking distance from the all amenities the University of Oregon and
East Downtown Eugene have to offer. Centrally located in the Eugene/Springfield urban metropolitan area
with easy freeway & interstate access, this prime location offers consistently high both long term rental and
affordable student housing demand with extremely low vacancy rates, long term investment stability & po-
tential rent growth.
PROPERTY / BUILDING CHARACTERISTICS:
The 1479 High Street property has been under the current ownership and professional property manage-
ment for the last 35 years. The apartment building built in 1969, offers roof and gutters that are less than 10
years old, fresh exterior trim paint, and all unit interiors having various levels of updating and periodic im-
provements. Exterior staircase replacement has been engineered and is slated to be completed with this
sale. The stand alone house structure built in 1928, boasts charming historical characteristics while featuring
a brand new roof, modern updates to the kitchen, bath, electrical & plumbing, and an unfinished basement
with laundry hook-ups. Foundation stabilization and front entry porch repairs estimates have been obtained
and are slated to be completed with this sale. Located on a 0.28 acre lot with R-3 zoning, building expan-
sions with a significant unit count may be achievable (buyer to confirm feasibility with City)