Multifamily

1237 Nandina St

1237 Nandina St, Sweet Home, OR 97386

Listing Price: $700,000

Cap Rate
3.74%
Number of Units
8
GRM
13.33
Occupancy
97.0%
Price/Unit
$87,500
Price/Gross SF
$150.31
Gross SF
4,657

Investment Overview

Marcus & Millichap is pleased to present, as the exclusive listing agent, the Nandina Apartments, an eight-unit apartment complex located at 1237 Nandina Street in Sweet Home. The property consists of three (3) buildings, featuring four (4) one bedroom, one bathroom units, two (2) two bedroom, one bathroom units and two (2) two bedroom, two bathroom units.

Recent capital improvements to the property include new windows, new roofs, and new gutters.

The property is conveniently located one block from Main Street and less than a half-mile walk from Safeway, the Post Office and Linn-Benton Community College, which will appeal to workforce and student renters alike.

The property presents immediate upside with rents approximately 30% below market rates. Two storage sheds on the property can be offered as additional amenities to tenants, or converted to laundry rooms for an additional income stream.

The seller is offering to carry financing, with 20% down at a 4.5% annual interest rate amortized over 30 years, with a five (5) year term.

Investment Highlights

  • Seller Carry Financing with 20% Down and 4.5% Interest - 6.81% Pro Forma Cap Rate
  • Significant Upside Potential; Rents 30% Below Market Rates
  • Two Storage Sheds On-Site: Use as Amenity or Convert to Laundry for Additional Income
  • Roofs Replaced within the Last Five Years

Exclusively Listed By

Listing Price: $700,000

Cap Rate
3.74%
Number of Units
8
GRM
13.33
Occupancy
97.0%
Price/Unit
$87,500
Price/Gross SF
$150.31
Gross SF
4,657

Investment Highlights

  • Seller Carry Financing with 20% Down and 4.5% Interest - 6.81% Pro Forma Cap Rate
  • Significant Upside Potential; Rents 30% Below Market Rates
  • Two Storage Sheds On-Site: Use as Amenity or Convert to Laundry for Additional Income
  • Roofs Replaced within the Last Five Years

Investment Overview

Marcus & Millichap is pleased to present, as the exclusive listing agent, the Nandina Apartments, an eight-unit apartment complex located at 1237 Nandina Street in Sweet Home. The property consists of three (3) buildings, featuring four (4) one bedroom, one bathroom units, two (2) two bedroom, one bathroom units and two (2) two bedroom, two bathroom units.

Recent capital improvements to the property include new windows, new roofs, and new gutters.

The property is conveniently located one block from Main Street and less than a half-mile walk from Safeway, the Post Office and Linn-Benton Community College, which will appeal to workforce and student renters alike.

The property presents immediate upside with rents approximately 30% below market rates. Two storage sheds on the property can be offered as additional amenities to tenants, or converted to laundry rooms for an additional income stream.

The seller is offering to carry financing, with 20% down at a 4.5% annual interest rate amortized over 30 years, with a five (5) year term.

Exclusively Listed By

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