490 Walnut Ln 2 Unit Apartment Building $550,000 ($275,000/Unit) Eugene, OR 97401

This duplex property in Eugene presents a compelling opportunity for investors seeking stable income and long-term asset growth in one of Oregon’s most vibrant markets. Located at 488/490 Walnut Lane, the property features two well-maintained units, including one three-bedroom, 1.5-bath unit with a basement and one two-bedroom, one-bath unit accented by a large outdoor deck. Both units offer fireplaces, modern air-conditioning, and thoughtful upgrades, creating lasting tenant appeal.
The property includes a finished basement shop for additional utility, delivering flexibility for workspace or storage. Recent capital improvements totaling $30,000 enhance functionality and value, while broker-ownership ensures a well-documented maintenance history. Current gross annual rents of $36,542 provide immediate income potential, supported by a 15.05 gross rent multiplier. Proximity to major thoroughfares such as Coburg Road connects tenants to key destinations, shopping, and dining, while nearby schools, including Holt Elementary, Monroe, and Sheldon, add to its desirability.
With long-term tenants in place and a location minutes from Trader Joe’s, regional retailers, and community amenities, this property stands as a dependable income generator.