For Sale
$4,499,000

935-975 Arthur AveCottage Grove, OR 97424

14-unit, high-occupancy apartment building

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 14-unit apartment building, known as Lindsay Townhomes, presents a compelling investment opportunity in Cottage Grove, Oregon. Completed in 2023, the property boasts a total of 18,434 square feet across three, two-story buildings situated on a 0.83-acre lot. Each of the 14 units features three bedrooms and two bathrooms, catering to a high demand for family-friendly housing. Currently operating at a 96% occupancy rate, the property generates a substantial net operating income (NOI) of $237,610, resulting in an attractive 5.17% capitalization rate. The asking price is $4,499,000, translating to $249.54 per square foot and $328,571 per unit. Ample parking is provided with 28 spaces available for residents. The property is zoned R3, allowing for flexibility in future development or management strategies. Located at 935-975 Arthur Ave, Cottage Grove, OR 97424, this property offers a prime location within Lane County. This turnkey investment is poised for continued success, offering a strong return on investment and a stable income stream for years to come. The property's modern construction and high occupancy rate make it an ideal addition to any real estate portfolio.

Highlights

  • $4,499,000 asking price for this 14-unit apartment building.
  • 18,434 square feet, offering a price per square foot of $249.54.
  • 5.17% cap rate with a Net Operating Income (NOI) of $237,610 and 96% occupancy.
  • 14 units, each averaging $328,571, situated in three, two-story buildings.
  • Built in 2023, this property features 28 parking spaces on a 0.83-acre lot, zoned R3.

Property Details for 935-975 Arthur Ave

Property type
Apartment buildings
Square Feet
18,434 SF
Year Built
2023
Buildings
3
Stories
2
Lot Size (sq. ft)
36,155 SF
Units
14

Location Insight

City
Cottage Grove
County
Lane
State
Oregon
Latitude
43.780855
Longitude
-123.057732
935-975 Arthur Ave, Cottage Grove, Oregon

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935-975 Arthur Ave
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