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Listed by John L. Scott Medford
$1,400,000
Est. payment /mo
6,812 SqFt
New
529 RAILROAD ST Brookings, OR 97415
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,812 sqft
Price per Sqft $205
MLS Listing ID 381662052
Year Built 1973
Annual Tax Amount $3,939
Tax Year 2025
Property Description
If you're in need of a low maintenance, highly profitable, centrally located 8-plex close to the coast & walking 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!
Location
State OR
County Curry
Area _270
Zoning R3
Rooms
Basement None
Interior
Heating Baseboard
Cooling Other
Exterior
View Mountain, Territorial
Roof Type Composition,Membrane
Garage No
Building
Lot Description Level
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Kalmiopsis
Middle Schools Azalea
High Schools Brookings-Harbr
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
NEARBY SCHOOL & BUSINESS