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550 Schetter Ave
Coos Bay, OR 97420
Schetter Ave Apartments · Multifamily Property For Sale
·
10 Units
Executive Summary
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Schetter Avenue Townhomes, a well maintained 10-Unit townhome community located at 550 Schetter Avenue in Coos Bay, Oregon. Constructed in 1974, the property consists of ten two story townhome residences comprised of eight two-bedroom units and two three-bedroom units, offering functional layouts that appeal to long term renters seeking space, privacy, and in unit conveniences.
Schetter Avenue Townhomes has benefited from meaningful recent capital investment that materially reduces deferred maintenance and future capital exposure. In 2024, ownership completed siding repairs and a full exterior repaint, significantly improving curb appeal and building durability. In 2025, all electrical panels were replaced, providing a critical systems upgrade that enhances safety, reliability, and insurability for future ownership. Additional improvements include parking lot seal coat and restripe completed in 2023 and vinyl window replacements.
The investment thesis is supported by a clear and proven value add strategy. Two units have been fully renovated with quartz countertops, new cabinetry, updated appliances, luxury vinyl plank flooring, and refreshed bathroom finishes. These renovated units have demonstrated an approximate $300 rent premium over the property’s previous highest rent levels, validating both tenant demand and renovation scope. The remaining eight units present a compelling opportunity to continue the renovation program and capture an estimated 16.5 percent additional rent upside as interiors are upgraded to match the established finish standard.
Located in a residential Coos Bay neighborhood, the property benefits from proximity to regional employment centers, healthcare, port related industry, and coastal amenities. The combination of townhome style living, proven rent growth, recent capital improvements, and remaining interior upside positions Schetter Avenue Townhomes as an attractive coastal Oregon investment with durable cash flow and meaningful long term appreciation potential.
Schetter Avenue Townhomes has benefited from meaningful recent capital investment that materially reduces deferred maintenance and future capital exposure. In 2024, ownership completed siding repairs and a full exterior repaint, significantly improving curb appeal and building durability. In 2025, all electrical panels were replaced, providing a critical systems upgrade that enhances safety, reliability, and insurability for future ownership. Additional improvements include parking lot seal coat and restripe completed in 2023 and vinyl window replacements.
The investment thesis is supported by a clear and proven value add strategy. Two units have been fully renovated with quartz countertops, new cabinetry, updated appliances, luxury vinyl plank flooring, and refreshed bathroom finishes. These renovated units have demonstrated an approximate $300 rent premium over the property’s previous highest rent levels, validating both tenant demand and renovation scope. The remaining eight units present a compelling opportunity to continue the renovation program and capture an estimated 16.5 percent additional rent upside as interiors are upgraded to match the established finish standard.
Located in a residential Coos Bay neighborhood, the property benefits from proximity to regional employment centers, healthcare, port related industry, and coastal amenities. The combination of townhome style living, proven rent growth, recent capital improvements, and remaining interior upside positions Schetter Avenue Townhomes as an attractive coastal Oregon investment with durable cash flow and meaningful long term appreciation potential.
Property Facts
| Price Per Unit | $135,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 7.05% | Building Size | 7,488 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price Per Unit | $135,000 |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 7,488 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
Property Taxes
| Parcel Number | 1002143200 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $411,000 |
Property Taxes
Parcel Number
1002143200
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$411,000
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