51 Unit value-add opportunity, only $39K/door! Located in downtown Klamath Falls, OR with views of Lake Ewauna! Affordable housing is in high demand & a near 40% vacancy rate will allow for quick stabilization upon Refi. Majority of vacant units are rent ready & could be HUD approved with minimal upgrades. New management and Cap-Ex improvements performed in year 1 will have this property operating well above a 7.5% Cap Rate within 12-18 months. Market rents for Studios in this area are between $650-750/mo!
Sold for $2,000,000
Zillow last checked:
Listing updated:
Bought with:
JORDAN SPARKS
Smi Real Estate
Source: WVMLS,MLS#: 808363
Price history
| Date | Event | Price |
|---|---|---|
| 10/17/2023 | Sold | $2,000,000$86/sqft |
Source:  WVMLS #808363 Report a problem | ||
| 8/10/2023 | Listed for sale | $2,000,000$86/sqft |
Source: WVMLS #808363 Report a problem | ||
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