Stacy Ellingson - Principal Broker
Principal Broker
REALTOR®, GRI,e-PRO,PSA,AHWD,C2EX,CREIPS,NCREA
(541) 591-4322
BEDS0
BATHS
SQUARE FEET6,912
MLS#220225188
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
If youre in need of a low maintenance, highly profitable, centrally located 8-plex close to the coast & a short distance to the iconic Chetco Point, this is the one for you! At list price, this turn-key asset operates at a strong 7% CAP Rate (includes projected rent from owners unit). Seven of the units offer spacious 2 bed, 1 bath open floorplans and one of the units is a 1 bed, 1 bath. Coin operated laundry room generates consistent ancillary income. Rents are currently $1325, $1320, $1418, $1250, $1450, $1295, $825.50, & owners remodeled premium unit (beautifully updated in 2022-2023) is expected to rent at $1500 per month. Owner pays for sewer, water, & trash. Each unit has its own power meter (tenants pay for their own electricity) & detached carport includes 1 dedicated covered parking space to each tenant. Owner spared no expense after purchasing this property by painting the exterior, remodeling multiple units, & much more!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Other
Heating: Baseboard, Electric
Home Style: Contemporary
Lot Size: 0.29 Acres
Roof Type: Composition, Membrane
Stories: 2.0
Taxes: $3,939
Year Built: 1973
Feature Descriptions
Exterior: Frame
Sewer: Public Sewer
Special View Info: Mountain(s), Neighborhood
Units: 8
Local Schools
High School: Brookings-Harbor
Middle School: Azalea
Elementary School: Kalmiopsis
Listed By / Shown By
Listed By
Agency Name: John L. Scott Medford
Shown By
Agent Name: Stacy Ellingson - Principal Broker
Agent Phone: (541) 591-4322
Agency Title: Fisher-Nicholson Realty LLC
Estimate Your Payment
Estimated Payment
$ 8,282.23 per month $7,545.65 Principal & Interest $328.25 Property Tax $408.33 Homeowner's InsuranceChange Payment Information
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529 Railroad Street | MLS# 220225188
This multi-family property located at 529 Railroad Street, Brookings, OR 97415 is currently listed for sale with an asking price of $1,400,000. Search Brookings real estate on stacyellingson.fnrhomes.com today.