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Multifamily

907 N Dean St

907 N Dean St, Coquille, OR 97423

Listing Price: $750,000

Cap Rate
5.96%
Number of Units
12
GRM
8.62
Occupancy
95.0%
Price/Unit
$62,500
Price/Gross SF
$69.44
Gross SF
10,800

Investment Overview

Marcus & Millichap is pleased to exclusively represent the sale of the Dean St. Apartments in Coquille, Oregon. The property is comprised of 12 units, all of which are one-bedroom units. The property has received significant upgrades including full roof replacement within the last two years and updated circuit breakers and electric panels.
Upside can be achieved by bringing rents to market and charging for additional storage. Rents are approximately 20% below market, allowing for solid achievable rent growth. There are five under-utilized garage spaces which could generate additional revenue if made available for storage. A savvy investor could achieve an additional lift in rents via implementation of an upgrade package on turnover.
All units include a balcony or deck, and select units have upgraded LVT flooring. The apartments are the only ones in the otherwise residential neighborhood, making for an attractive location and a rare asset. The property, located in the county seat, is centrally located within close proximity to schools, parks, and shopping and dining options ranging from local to national brands.

Investment Highlights

  • Upside Built-In: Nearly 20% Below Market Rents; Additional Income Streams Available
  • Recent Capital Investments, Including New Roof
  • Unique Asset: Only Apartment in Quiet Residential Neighborhood

Exclusively Listed By

Listing Price: $750,000

Cap Rate
5.96%
Number of Units
12
GRM
8.62
Occupancy
95.0%
Price/Unit
$62,500
Price/Gross SF
$69.44
Gross SF
10,800

Investment Highlights

  • Upside Built-In: Nearly 20% Below Market Rents; Additional Income Streams Available
  • Recent Capital Investments, Including New Roof
  • Unique Asset: Only Apartment in Quiet Residential Neighborhood

Investment Overview

Marcus & Millichap is pleased to exclusively represent the sale of the Dean St. Apartments in Coquille, Oregon. The property is comprised of 12 units, all of which are one-bedroom units. The property has received significant upgrades including full roof replacement within the last two years and updated circuit breakers and electric panels.
Upside can be achieved by bringing rents to market and charging for additional storage. Rents are approximately 20% below market, allowing for solid achievable rent growth. There are five under-utilized garage spaces which could generate additional revenue if made available for storage. A savvy investor could achieve an additional lift in rents via implementation of an upgrade package on turnover.
All units include a balcony or deck, and select units have upgraded LVT flooring. The apartments are the only ones in the otherwise residential neighborhood, making for an attractive location and a rare asset. The property, located in the county seat, is centrally located within close proximity to schools, parks, and shopping and dining options ranging from local to national brands.

Exclusively Listed By

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