SOLD | 124 N 2nd St, Klamath Falls, OR 97601

Details
Price$2,000,000
Size23,244 SF
Acres0.73
ZoneGC
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51 Unit value-add opportunity, only $39K/door!

(45) Studio / 1 bath
(5) 1 bed / 1 bath
(1) 2 bed / 1 bath

Located in downtown Klamath Falls, OR with views of Lake Ewauna. Affordable housing is in high demand & a near 40% vacancy rate will allow for quick stabilization and refi. Majority of vacant units are rent ready & could be HUD approved with minimal upgrades. Operating potential estimated between 7.5% – 8.5% Cap Rate upon Stabilization. Market rents for similar units in the area are between $650-750/month.

SMI Real Estate and Jordan Sparks, Broker Licensed in the State of Oregon represented the Buyer and the Seller in this transaction.

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