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River Crest 937 SE Sheridan Rd 61 Unit Apartment Building For Sale Sheridan, OR 97378
Executive Summary
Full Building Envelope Upgrade ~10 Years ago
New Hardi-Plank lap siding, weather barrier system, & 40-year roof
2026 Upgrades include full exterior paint & landscaping
Late 90's Vintage w/ Copper Plumbing
Wood-frame construction, copper supply lines, price well below replacement cost
Non-Cyclical Employment Base
FCI Sheridan is the City's largest employer. Spirit Mountain Casino sits 10 miles west supports stable workforce demand.
Wine Country Tourism
Yamhill County holds the largest winery/vineyard concentration in Oregon, visitor revenue up 13.5% (2022-2024)
18% Rent Discount to McMinnville
Sheridan 2BR/1BA comps average $1,250 vs. $1,432 in McMinnville, create natural runway as regional demand spills west.
New Hardi-Plank lap siding, weather barrier system, & 40-year roof
2026 Upgrades include full exterior paint & landscaping
Late 90's Vintage w/ Copper Plumbing
Wood-frame construction, copper supply lines, price well below replacement cost
Non-Cyclical Employment Base
FCI Sheridan is the City's largest employer. Spirit Mountain Casino sits 10 miles west supports stable workforce demand.
Wine Country Tourism
Yamhill County holds the largest winery/vineyard concentration in Oregon, visitor revenue up 13.5% (2022-2024)
18% Rent Discount to McMinnville
Sheridan 2BR/1BA comps average $1,250 vs. $1,432 in McMinnville, create natural runway as regional demand spills west.
Data Room Click Here to Access
- Operating and Financials
Property Facts
| Sale Type | Investment | Lot Size | 4.16 AC |
| No. Units | 61 | Building Size | 52,356 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1997/2015 |
| Building Class | B | Parking Ratio | 2.01/1,000 SF |
| Zoning | R2 - Medium Density Resi. | ||
| Sale Type | Investment |
| No. Units | 61 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.16 AC |
| Building Size | 52,356 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1997/2015 |
| Parking Ratio | 2.01/1,000 SF |
| Zoning | R2 - Medium Density Resi. |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Refrigerator
- Carpet
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Playground
- Gameroom
- Laundry Service
- Pet Play Area
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 60 | $1,350 | 836 |
| 3+1 | 1 | $1,675 | 1,000 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $3,204,818 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,204,818
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River Crest | 937 SE Sheridan Rd
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