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690 SW 9th St
Hermiston, OR 97838
Sunshine Court · Multifamily Property For Sale
·
44 Units
Investment Highlights
- VALUE ADD READY - Strong Upside with Heaving Lifting Completed
- TIGHT VACANCY - Extremely Low Vacancy on Highly Sought After Location
- EXPERT CARE - Professionally Managed and Maintained
- UNIT MIX BALANCE - Attractive Even Mix of Both One & Two-Bedroom Units
- OPEN SPACE LIVING - Low Density Living with Large Greenspace
- FUTURE DEVELOPMENT SITE - Additional Underutilized Land for Nimble Investor
Executive Summary
Marcus & Millichap is pleased to exclusively present Sunshine Court Apartments, a 44 unit multifamily investment opportunity located in Hermiston, Oregon.? Situated on approximately four acres, the property consists of eight residential buildings including three eightplexes and five fourplexes, originally constructed in 1973.? Ownership has demonstrated exceptional pride of ownership through professional management, proactive maintenance, and a comprehensive capital improvement program that has significantly enhanced the property’s overall quality and long term investment appeal.?
Extensive exterior upgrades have been completed throughout the community, including roofs replaced on all buildings within the past ten years, updated siding and exterior paint, newly poured concrete walkways and patios, resurfaced parking areas, upgraded signage, new patio dividers, modernized irrigation systems, and improvements to both mailbox and refuse enclosures.? A new building and unit numbering system has also been implemented, creating a cleaner and more intuitive experience while improving curb appeal.? The property features a standalone on site laundry facility with four washers and four dryers, along with a large dedicated storage area supporting efficient day to day operations.?
In addition, more than 75% of the units have undergone interior renovations, including newer appliances, updated flooring with luxury vinyl plank and linoleum, modern cadet heating systems, and in wall air conditioning.? These improvements have enhanced tenant appeal and reduced future capital expenditure needs.? Sunshine Court offers an even mix of 22 one bedroom units and 22 two bedroom units ranging from approximately 600 to 750 square feet, attracting a diverse tenant base including healthcare, industrial, agricultural, and workforce renters.? The multi building layout provides a neighborhood style living environment while offering operational flexibility and reduced concentration risk.?
With a strong history of ownership, extensive capital improvements, and a proven operating track record, Sunshine Court Apartments represents a well maintained and stable investment opportunity positioned to benefit from continued rental demand, population growth, and limited housing supply, with additional upside through future rent growth and continued interior enhancements.?
Extensive exterior upgrades have been completed throughout the community, including roofs replaced on all buildings within the past ten years, updated siding and exterior paint, newly poured concrete walkways and patios, resurfaced parking areas, upgraded signage, new patio dividers, modernized irrigation systems, and improvements to both mailbox and refuse enclosures.? A new building and unit numbering system has also been implemented, creating a cleaner and more intuitive experience while improving curb appeal.? The property features a standalone on site laundry facility with four washers and four dryers, along with a large dedicated storage area supporting efficient day to day operations.?
In addition, more than 75% of the units have undergone interior renovations, including newer appliances, updated flooring with luxury vinyl plank and linoleum, modern cadet heating systems, and in wall air conditioning.? These improvements have enhanced tenant appeal and reduced future capital expenditure needs.? Sunshine Court offers an even mix of 22 one bedroom units and 22 two bedroom units ranging from approximately 600 to 750 square feet, attracting a diverse tenant base including healthcare, industrial, agricultural, and workforce renters.? The multi building layout provides a neighborhood style living environment while offering operational flexibility and reduced concentration risk.?
With a strong history of ownership, extensive capital improvements, and a proven operating track record, Sunshine Court Apartments represents a well maintained and stable investment opportunity positioned to benefit from continued rental demand, population growth, and limited housing supply, with additional upside through future rent growth and continued interior enhancements.?
Property Facts
| Price Per Unit | $140,909 | Building Class | C |
| Sale Type | Investment | Lot Size | 4.00 AC |
| Cap Rate | 6.12% | Building Size | 61,600 SF |
| No. Units | 44 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Garden | Parking Ratio | 0.81/1,000 SF |
| Zoning | R-1 | ||
| Price Per Unit | $140,909 |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.00 AC |
| Building Size | 61,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 0.81/1,000 SF |
| Zoning | R-1 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Refrigerator
- Oven
- Range
Site Amenities
- Courtyard
- Picnic Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 500 - 700 |
| 2+1 | 22 | - | 900 |
Property Taxes
| Parcel Number | 122787 | Improvements Assessment | $1,297,640 |
| Land Assessment | $144,450 | Total Assessment | $1,442,090 |
Property Taxes
Parcel Number
122787
Land Assessment
$144,450
Improvements Assessment
$1,297,640
Total Assessment
$1,442,090
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