Investment Overview

The Starlite Apartments is an 18-unit, two-story apartment complex located at 2424 Main Street in Sweet Home Oregon. Originally constructed in 1978, The Starlite Apartments total 18,000 rentable square feet and feature eighteen (18) large Two-Bedroom/One-Bathroom floor plans. All units have the same layout and feature 1,000 square feet of living space, dual vanities in the bathrooms, dual closets in the master bedrooms, concrete patios and shared decks with sliders. Interior amenities include a range, refrigerator, dishwasher, garbage disposal and three different storage closets, one of which is in the bathroom and could be converted into a washer/dryer hookup. Common amenities include a secure laundry room, twenty-eight (28) parking spaces, a fenced dog park, exterior lights, a grass courtyard, and security cameras. Five (5) of the units have been fully renovated with new stainless-steel appliances, LVP flooring, paint, cabinets and ceiling fans. Three (3) have received new counters, the remaining units have received small updates over the years, including new LVP flooring and interior paint. The owner has invested more than $155,000 renovating the property. Exterior updates include reinforced stairway and railings, safety work to walk-ways, a new roof in 2018, new white vinyl windows within the last 10-15 years and new siding within the last 10-15 years.