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529 Railroad St 8 Unit Apartment Building $1,325,000 ($165,625/Unit) 7.50% Cap Rate Brookings, OR 97415
Executive Summary
Highly profitable, centrally located 8-plex close to the coast & walking distance to the iconic Chetco Point! At list price, this turn-key asset operates at a strong 7.5% CAP Rate (includes projected rent from owners unit). Seven of the units offer spacious 2 bed, 1 bath open floorplans and one of the units is a 1 bed, 1 bath. Coin operated laundry room generates consistent ancillary income. Rents are currently $1325, $1320, $1418, $1250, $1450, $1295, $825.50, & owners remodeled premium unit (beautifully updated in 2022-2023) is expected to rent at $1500 per month. Owner pays for sewer, water, & trash. Each unit has its own power meter (tenants pay for their own electricity) & detached carport includes 1 dedicated covered parking space to each tenant. Owner spared no expense after purchasing this property by painting the exterior, remodeling multiple units, & much more!
Property Facts
| Price | $1,325,000 | Apartment Style | Low-Rise |
| Price Per Unit | $165,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 7.50% | Building Size | 6,912 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 2.46/1,000 SF |
| Zoning | R-3 | ||
| Price | $1,325,000 |
| Price Per Unit | $165,625 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,912 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 2.46/1,000 SF |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 7 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R17660 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $416,700 |
Property Taxes
Parcel Number
R17660
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$416,700
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529 Railroad St