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Multifamily

French Quarter Apartments

1101 W 6th Ave, Eugene, OR 97402

Listing Price: $4,200,000

Cap Rate
5.21%
Number of Units
24
Occupancy
95.0%
Price/Unit
$175,000
Price/Gross SF
$200.00
Gross SF
21,000

Investment Overview

French Quarter is a recently and upgraded complex offering twenty-four apartment units in Eugene, Oregon. French Quarter features six duplex buildings with townhome Style two-bedroom/one-and-one-half bathroom floor plans, and three fourplex buildings with two- bedroom/one-bathroom flats. The complex offers ample parking including twelve surface spaces located on West 6th Avenue. Additionally, there are six single-car garages, seven covered parking spaces, and seven uncovered parking spaces located on the north side of the property on West 5th Alley. Built in the 1970’s , French Quarter was substantially remodeled in the last 12 months. Exterior improvements include all new roofs, vinyl windows, doors, trim, parking lot striping and exterior paint. Interior upgrades include new LVP flooring, stainless steel appliance suites, quartz countertops and modern fixtures. The courtyard layout offers tenants peace and quiet in a central location, with inward facing two-story units reducing traffic noise from 6th Avenue and offering tenants a private living setting compared to other options in the area. The property is fully secured with gate access. Amenities include interior courtyards and private yards (townhomes) and decks (flats), while three laundry rooms on the property ensure shorter walks and waiting times. In order to maximize their return, the buyer of this property will benefit from increasing rents to market which is already being achieved in the upgraded units. By increasing rents the market year one, buyers will improve the cap rate to 6.8%, with cash flow increasing to 11.04%.

Investment Highlights

  • 6.8% Pro-Forma Cap Rate
  • Fully Remodeled Units
  • Proven Upside Potential on Rents
  • Ideal location - Less than 3 Miles from University of Oregon

Exclusively Listed By

Financing By

Multifamily

French Quarter Apartments

Listing Price: $4,200,000

Cap Rate
5.21%
Number of Units
24
Occupancy
95.0%
Price/Unit
$175,000
Price/Gross SF
$200.00
Gross SF
21,000

Investment Highlights

  • 6.8% Pro-Forma Cap Rate
  • Fully Remodeled Units
  • Proven Upside Potential on Rents
  • Ideal location - Less than 3 Miles from University of Oregon

Investment Overview

French Quarter is a recently and upgraded complex offering twenty-four apartment units in Eugene, Oregon. French Quarter features six duplex buildings with townhome Style two-bedroom/one-and-one-half bathroom floor plans, and three fourplex buildings with two- bedroom/one-bathroom flats. The complex offers ample parking including twelve surface spaces located on West 6th Avenue. Additionally, there are six single-car garages, seven covered parking spaces, and seven uncovered parking spaces located on the north side of the property on West 5th Alley. Built in the 1970’s , French Quarter was substantially remodeled in the last 12 months. Exterior improvements include all new roofs, vinyl windows, doors, trim, parking lot striping and exterior paint. Interior upgrades include new LVP flooring, stainless steel appliance suites, quartz countertops and modern fixtures. The courtyard layout offers tenants peace and quiet in a central location, with inward facing two-story units reducing traffic noise from 6th Avenue and offering tenants a private living setting compared to other options in the area. The property is fully secured with gate access. Amenities include interior courtyards and private yards (townhomes) and decks (flats), while three laundry rooms on the property ensure shorter walks and waiting times. In order to maximize their return, the buyer of this property will benefit from increasing rents to market which is already being achieved in the upgraded units. By increasing rents the market year one, buyers will improve the cap rate to 6.8%, with cash flow increasing to 11.04%.

Exclusively Listed By

Financing By

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