SOLD | 124 N 2nd St, Klamath Falls, OR 97601
| Details | |
| Price | $2,000,000 |
| Size | 23,244 SF |
| Acres | 0.73 |
| Zone | GC |
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.
Jordan’s Other Properties:
