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Multifamily

Devstone Apartments at High Street

1838 High St, Eugene, OR 97401

Listing Price: $1,699,000

Cap Rate
4.28%
Number of Units
4
Occupancy
100.0%
Price/Unit
$424,750
Price/Gross SF
$231.35
Gross SF
7,344

Investment Overview

Marcus & Millichap is pleased to present, as the exclusive listing agent, The Devstone Apartments at High Street, a three story, four unit, 16 bedroom apartment complex, located near the corner of East 18th Ave. and East 18th Alley in the West University Neighborhood. The complex is six blocks from the University of Oregon's campus, one mile from the University of Oregon book store, one block from Safeway, Starbucks, South Eugene High school and a few steps from the bus stop. This property has a 92/100 Walk score. Nearby recreation includes Eugene Civic Stadium, Amazon Ball Fields and Charnel Mulligan City Park. The Devstone Apartments at High Street offer four large four-bedroom units with 7 covered carports. The first floor is an open concept living space and kitchen with laminate floors, tile counters, hickory cabinets, dishwasher and refrigerator. The second floor contains two large bedrooms with full bath and laundry area. The third floor has an additional two large bedrooms with another full bath and a covered south facing sun deck. Current rents average $556 per bedroom and trail the current market by nearly 20%. The Devstone at High St presents an opportunity to obtain a quality asset with a great location and a large upside in rents.

Investment Highlights

  • Prime location: six blocks from University of Oregon campus
  • Rents trailing market by ~20%
  • Separately metered electricity
  • Large bedrooms ranging from 154 to 200+ Square Feet

Exclusively Listed By

Multifamily

Devstone Apartments at High Street

Listing Price: $1,699,000

Cap Rate
4.28%
Number of Units
4
Occupancy
100.0%
Price/Unit
$424,750
Price/Gross SF
$231.35
Gross SF
7,344

Investment Highlights

  • Prime location: six blocks from University of Oregon campus
  • Rents trailing market by ~20%
  • Separately metered electricity
  • Large bedrooms ranging from 154 to 200+ Square Feet

Investment Overview

Marcus & Millichap is pleased to present, as the exclusive listing agent, The Devstone Apartments at High Street, a three story, four unit, 16 bedroom apartment complex, located near the corner of East 18th Ave. and East 18th Alley in the West University Neighborhood. The complex is six blocks from the University of Oregon's campus, one mile from the University of Oregon book store, one block from Safeway, Starbucks, South Eugene High school and a few steps from the bus stop. This property has a 92/100 Walk score. Nearby recreation includes Eugene Civic Stadium, Amazon Ball Fields and Charnel Mulligan City Park. The Devstone Apartments at High Street offer four large four-bedroom units with 7 covered carports. The first floor is an open concept living space and kitchen with laminate floors, tile counters, hickory cabinets, dishwasher and refrigerator. The second floor contains two large bedrooms with full bath and laundry area. The third floor has an additional two large bedrooms with another full bath and a covered south facing sun deck. Current rents average $556 per bedroom and trail the current market by nearly 20%. The Devstone at High St presents an opportunity to obtain a quality asset with a great location and a large upside in rents.

Exclusively Listed By

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