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
Listed by: Smi Real Estate
Bought with: Smi Real Estate
$2,000,000
124 N 2nd St, Klamath Falls, OR 97601
5beds
51baths
23,244sqft
Multi Family
Built in 1969
-- sqft lot
$2,208,100 Zestimate®
$86/sqft
$1,392 Estimated rent
Home value
$2,208,100
$1.79M - $2.67M
$1,392/mo
Zestimate® history
Owner options
List your home for rent
$1,392/mo
Rent Zestimate®
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$1,392/mo
Rent Zestimate®
Refinance and save
$9,405/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$9,405/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
JORDAN SPARKS 541-646-0650,
Smi Real Estate
Bought with:
JORDAN SPARKS
Smi Real Estate
Source: WVMLS,MLS#: 808363
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 51
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
Interior area
- Total structure area: 23,244
- Total interior livable area: 23,244 sqft
Property
Features
- Exterior features: Blue
Lot
- Size: 0.73 Acres
Details
- Zoning: GC
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- New construction: No
- Year built: 1969
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Water Connected
Community & neighborhood
Location
- Region: Klamath Falls
- Subdivision: Klamath Falls Original
Other
Other facts
- Listing agreement: Exclusive Right To Sell
- Price range: $2M - $2M
- Listing terms: Cash,Conventional,1031 Exchange
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 | ||
Public tax history
Tax history is unavailable.
Neighborhood: 97601
Nearby schools
GreatSchools rating
- 6/10Joseph Conger Elementary SchoolGrades: K-5Distance: 1 mi
- 5/10Ponderosa Junior High SchoolGrades: 6-8Distance: 1.4 mi
- 5/10Klamath Union High SchoolGrades: 9-12Distance: 0.7 mi
Sell for more on Zillow
Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
$2,208,100
2% more
+$44,162
With Zillow Showcase(estimated)
$2,252,262
- Oregon
- Klamath County
- Klamath Falls
- 97601
- 124 N 2nd St
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