124 N 2nd St, Klamath Falls OR 97601

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.