Investment Overview

The Fives on River is a 17-unit, single story apartment complex located at 555 N River Rd, Cottage Grove, OR 97424. Originally constructed in 1920, The Fives on River was renovated down to the studs in 2023. The property contains 9,250 rentable square feet and features (1) studio unit and (16) 2 Bed/1 Bath units. Over the last few years, the owner has re-shored the foundation, supported the framing, added and replaced rafters, installed a new roof, new siding, new paint, new doors new windows and zero maintenance landscaping. Each unit was renovated with LVP flooring, new paint, new fixtures, new granite counters, new cabinets and new stainless-steel appliances. Each unit contains it’s own washer, dryer and dishwasher, along with large closets for additional storage space. Each unit is sub-metered for water, sewer and electricity, which significantly reduces the utility costs for a new owner. The property is currently Professional managed at a 6% flat fee. The Fives on River is ideally located close to downtown Cottage Grove. Within a short distance tenants will enjoy local amenities such as parks, schools, and community spaces. The town of Cottage Grove boasts a friendly community atmosphere, with local businesses, shops, and cafes contributing to the town's small-town charm. There are a total of 626 apartments units in Cottage Grove, with no new units currently in construction and a tight vacancy rate of 2.4%. Current annual rent growth in Cottage Grove is 1.6%. The property currently has 11 units filled and 6 units vacant.