Multifamily
Main West Apartments
375 Main St W, Monmouth, OR 97361
Listing Price: $1,200,000
Investment Overview
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Main West Apartments, an excellent investment opportunity just one block from Western Oregon University’s sports centers. The property consists of 10 units, primarily one-bedroom, one-bath apartments, along with one studio unit and an on-site laundry facility. Recent exterior upgrades include new paint, updated exterior doors, and a newly sealed and striped parking lot, enhancing the property’s curb appeal and ensuring minimal deferred maintenance. Its prime location near the university makes it highly attractive to students and faculty, offering strong rental demand.
This property also presents a significant value-add opportunity. Pro Forma rents have been proven at the property and are further supported by competing apartments in the area. Investors can grow net operating income by increasing rents to match proven market levels, potentially boosting returns by an additional 10% within the next year. Main West Apartments is a prime candidate for investors seeking a well-located property with both immediate income and long-term growth potential.
Exclusively Listed By
Listing Price: $1,200,000
Investment Highlights
- Primarily One Bedroom, One Bath, Plus One Studio Unit
- Recent Exterior Upgrades Include New Paint, Doors, and More
- Potential to Increase Rents for Further Income Growth
Investment Overview
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Main West Apartments, an excellent investment opportunity just one block from Western Oregon University’s sports centers. The property consists of 10 units, primarily one-bedroom, one-bath apartments, along with one studio unit and an on-site laundry facility. Recent exterior upgrades include new paint, updated exterior doors, and a newly sealed and striped parking lot, enhancing the property’s curb appeal and ensuring minimal deferred maintenance. Its prime location near the university makes it highly attractive to students and faculty, offering strong rental demand. This property also presents a significant value-add opportunity. Pro Forma rents have been proven at the property and are further supported by competing apartments in the area. Investors can grow net operating income by increasing rents to match proven market levels, potentially boosting returns by an additional 10% within the next year. Main West Apartments is a prime candidate for investors seeking a well-located property with both immediate income and long-term growth potential.
Exclusively Listed By
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