745 15Th AveEugene, OR 97401

Property Details for 745 15Th Ave

Year built

1967

Lot size

0.25 AC

Property size (Sq ft)

29,720 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 30-unit apartment building and an additional lot, ideally situated in Eugene, Oregon, just 1.5 blocks from the Knight Library at the University of Oregon. Built in 1967 with multiple renovations, this two-story building boasts 29,720 square feet and offers a mix of 1, 2, and 3-bedroom units, accommodating a total of 52 beds. The property includes 18 on-site parking spaces, a rare amenity in this location. An attractive feature is the inclusion of an additional lot, providing potential for future development. Currently generating a Net Operating Income (NOI) of $182,197, this property presents a strong cash flow with potential for increased revenue due to below-market rents. The building sits on a 0.25-acre lot and is zoned R4, allowing for a variety of uses. On-site laundry facilities and an interior courtyard enhance the resident experience. This is a unique opportunity to acquire a well-located, income-producing asset with significant upside potential in a thriving university town. The asking price is $3,312,000.

Location Insight

City

Eugene

County

Lane

State

Oregon

Latitude

44.0436

Longitude

-123.081

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