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    Merlin Multifamily Investment Opportunity

    387 Tavis Drive Merlin, OR 97532

    387 Tavis Drive, Merlin, OR, 97532
    $1,850,000
    For Sale
    Claim this Listing
    $1,850,000

    MULTI_FAMILY - Merlin, OR

    Property Size10,236 SF
    Lot Size8.06 Acres
    Price / SF$180.73
    AddedJul 31, 2023
    Days on Market1081
    Last RefreshJul 15 at 4:06 am

    Property Features for 387 Tavis Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Driveway
    Standard status
    Active
    APN
    R303680
    Size
    10,236 SF
    Lot size
    8.06 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    7639

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    Building Details

    Year built
    1983
    Floors in Building
    1
    Number of units
    16
    Roof type
    Composition, Metal

    Listing agent Martin Outdoor Property Group License #200706071

    Listing office John L. Scott Medford 871 Medford Center, Medford, OR

    Listing date Jul 31, 2023

    MLS# 220168856

    Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This offering features a 16-unit rental portfolio situated on just over 8 acres. The property includes 16 lots, with 10 homes owned by the seller and 6 tenant-owned homes renting the space. The property generates a gross annual rent of approximately $155,000. With further improvements, there is potential to increase the annual income to over $200,000. Each lot is independent, offering the option for a new owner to sell off individual lots. Located in Merlin, the neighborhood provides access to natural beauty and recreation, with the Rogue River nearby, attracting travelers for rafting and fishing. The Grants Pass city center is just under 9 miles from Tavis Drive, offering dining, shopping, entertainment, and healthcare options. The property is comprised of 10236 square feet.

    Key Highlights

    • 16‑unit rental portfolio on just over 8 acres, made up of 16 lots with 10 homes owned by the seller and 6 homes tenant‑owned
    • Current gross rent is approximately $155,000 per year, with upside potential mentioned to exceed $200,000 per year with further improvement
    • Each lot is independent, offering the option to sell off separate lots or tailor the investment to your preference

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $147.4k $14.40
    − Vacancy −$7.1k −$0.69
    EGI $140.3k $13.71
    − OpEx −$63.1k −$6.17
    NOI $77.2k $7.54
    10,236 SF · lease $14.40/SF/yr · vacancy 4.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.10M
    $964.7K – $1.29M (±1% cap)
    NOI $77,178 @ 7.0% cap · market cap 4.17%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.32M
    $2.03M – $2.71M (±1% cap)
    NOI $162,463 @ 7.0% cap · market cap 8.78%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Real Estate Agency Building Supply Hair Salon Pharmacy Plumbing Service Furniture & Home Goods Auto Parts Store Restaurant Law Firm Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Mobile home & RV park - 16-unit rental portfolio in Merlin, Oregon, near Rogue River.
    Where is this mobile home & rv park located?
    The property is located at 387 Tavis Drive Merlin, OR.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: 16‑unit rental portfolio on just over 8 acres, made up of 16 lots with 10 homes owned by the seller and 6 homes tenant‑owned; Current gross rent is approximately $155,000 per year, with upside potential mentioned to exceed $200,000 per year with further improvement; Each lot is independent, offering the option to sell off separate lots or tailor the investment to your preference
    Contact an agent
    (541) 660-5111
    We can help!
    Contact an agent
    Martin Outdoor Property Group
    Real Estate License ID: 200706071
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