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2981 State Street, Medford, OR 97504

$6,450,000
Property Type: Residential Income Lot Size (sq. ft.): 209,088 Status: Closed
Current Price: $6,450,000 List Date: 7/19/2017 Last Modified: 10/31/2024

Description

A peaceful countryside atmosphere with natural and designed landscaping. Close to transportation, shopping and medical services. There are 101 rental units in 19 buildings. There are 410 businesses and 8532 employees within 5 minutes drive time of the complex. 77.8 percent of those employees are in health services. The property has been upgraded with Hardi Plank siding and double pane windows, and Southern Oregon Rental Association vacancy in the market is 1.7 percent. Renting at approximately $.80 per square foot per month. these are very competitive units for the market place. Private enclosed patios, swimming pool, open parking with 171 spaces. A mix of units from 592 to 1309 square feet. All units have patios, decks or balconies, private outside entrance, carpet & vinyl or laminate flooring.

Supplements: ********

More Information MLS# 102979626

Location, Tax, and Legal

Cross Street: Murphy Parcel Number: 10021962 Lot Size Acres: 4.8 Lot Size Square Feet: 209088

General Property Information

# of Units Total: 101 Zoning: MFR-30 Tax Annual Amount: 84922.5 Tax Year: 2016 CC&R's YN: No Sign On Property YN: No Property Sub Type: Multi Family Year Built: 1972

Remarks and Miscellaneous

Public Remarks: A peaceful countryside atmosphere with natural and designed landscaping. Close to transportation, shopping and medical services. There are 101 rental units in 19 buildings. There are 410 businesses and 8532 employees within 5 minutes drive time of the complex. 77.8 percent of those employees are in health services. The property has been upgraded with Hardi Plank siding and double pane windows, and Southern Oregon Rental Association vacancy in the market is 1.7 percent. Renting at approximately $.80 per square foot per month. these are very competitive units for the market place. Private enclosed patios, swimming pool, open parking with 171 spaces. A mix of units from 592 to 1309 square feet. All units have patios, decks or balconies, private outside entrance, carpet & vinyl or laminate flooring. Directions: Barnett, right to Murphy and right to State to the address.

Additional Features

Laundry Facility: 1 Manager's Quarters: 1 Separate Electric Meters: 1

Income and Expenses (Annual Amounts)

Net Operating Income: 415664 Gross Income: 860809 Operating Expense: 445079

Cooling

Heat Pump: 1 Wall/Window Unit(s): 1

Construction Materials

Concrete: 1 Frame: 1

Listing Terms

Cash: 1 Conventional: 1

Foundation Details

Slab: 1

Flood

N/A: 1

Heating

Baseboard: 1 Electric: 1 Forced Air: 1

Inclusions/Exclusions

Inclusions: Refrigerators and range/ovens Exclusions: Tenants personal property

Roof

Composition: 1

Association Amenities

Pool: 1

Sewer

Public Sewer: 1

Water Source

Public: 1

Documents on File

APOD: 1 Lead Based Paint Report: 1 Profit and Loss Statement: 1 Schedule of Tenants: 1 Seller Disclaimer: 1

Special Listing Conditions

Standard: 1

Location Tax and Legal

Street Number: 2981 Street Name: State Street Suffix: Street County: Jackson State: OR Postal Code: 97504

Contract Information

Current Price: $6,450,000 Status: Closed Original List Price: 6000000 Sold Price: $6,450,000 Listing Contract Date: 2017-07-19

Status Change Information

Close Date: 2017-09-19 Under Contract Date: 2017-07-26 Status Change Timestamp: 2017-09-20 Close Price: 6450000

Property Features

Construction Materials: Concrete; Frame Cooling: Heat Pump; Wall/Window Unit(s) Foundation Details: Slab Heating: Baseboard; Electric; Forced Air Roof: Composition Additional Features: Laundry Facility; Manager's Quarters; Separate Electric Meters Flood: N/A Association Amenities: Pool Sewer: Public Sewer Water Source: Public Documents on File: APOD; Lead Based Paint Report; Profit and Loss Statement; Schedule of Tenants; Seller Disclaimer Listing Terms: Cash; Conventional Special Listing Conditions: Standard
Listing Office: Oregon Opportunities Real Estate
Last Updated: October - 31 - 2024
Broker Attribution: info@OROP.COM

Information deemed reliable but not guaranteed.