Skip to main content

Multifamily

Winchester Apartments

1806 Winchester Ave, Reedsport, OR 97467

Listing Price: $1,020,000

Cap Rate
8.01%
Number of Units
10
GRM
8.90
Occupancy
95.0%
Price/Unit
$102,000
Price/Gross SF
$190.65
Gross SF
5,350

Investment Overview

The Winchester Ave Apartments is a single story, garden style complex located at 1806 Winchester Ave, Reedsport, OR. The property was constructed in 1951. Ten units are spread across two buildings, on a single tax parcel. The unit mix consists of eight (8) one-bedroom units, one (1) studio unit and one (1) two-bedroom unit. Units have been updated with carpet, paint and appliances as needed. Property amenities include ample off-street parking, two carports, a laundry room and easy access to the highway. Residents enjoy quiet, private parking located behind the complex. Each unit is separately metered for electricity, which was updated in 2012. Other recent improvements include updated plumbing throughout the complex in 2021. Currently the property is self-managed.

The Winchester Apartments are located right off the Oregon Coast Highway, which provides easy access to the Umpqua shopping mall and five parks within 9 miles, including Umpqua Discovery Center, Bolon Island Tideway's State Scenic Corridor, and Oregon Dunes National Recreation Area.

Investment Highlights

  • Current Cap Rate: 8.01%
  • Opportunity to Convert Studio/Office Into A One-Bedroom
  • Central Location Within Reedsport Oregon
  • Strong Rental History With Long Term Tenants

Exclusively Listed By

Financing By

Multifamily

Winchester Apartments

Listing Price: $1,020,000

Cap Rate
8.01%
Number of Units
10
GRM
8.90
Occupancy
95.0%
Price/Unit
$102,000
Price/Gross SF
$190.65
Gross SF
5,350

Investment Highlights

  • Current Cap Rate: 8.01%
  • Opportunity to Convert Studio/Office Into A One-Bedroom
  • Central Location Within Reedsport Oregon
  • Strong Rental History With Long Term Tenants

Investment Overview

The Winchester Ave Apartments is a single story, garden style complex located at 1806 Winchester Ave, Reedsport, OR. The property was constructed in 1951. Ten units are spread across two buildings, on a single tax parcel. The unit mix consists of eight (8) one-bedroom units, one (1) studio unit and one (1) two-bedroom unit. Units have been updated with carpet, paint and appliances as needed. Property amenities include ample off-street parking, two carports, a laundry room and easy access to the highway. Residents enjoy quiet, private parking located behind the complex. Each unit is separately metered for electricity, which was updated in 2012. Other recent improvements include updated plumbing throughout the complex in 2021. Currently the property is self-managed. The Winchester Apartments are located right off the Oregon Coast Highway, which provides easy access to the Umpqua shopping mall and five parks within 9 miles, including Umpqua Discovery Center, Bolon Island Tideway's State Scenic Corridor, and Oregon Dunes National Recreation Area.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower