Stable USDA Affordable Housing
1140 19th St Myrtle Point, OR 97458
1140 19th St, Myrtle Point, OR, 97458
$3,500,000
For Sale
$3,500,000
30-unit apartment community in Myrtle Point, Oregon.
Days on Market112
Property Features for 1140 19th St
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Sacramento Office
(916) 724-1337
Listed by
Yasko Massias · License #License(s): CA: 02281637
(916) 724-1337
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 10 at 1:14PM Checked: Jul 23 at 2:37AM
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Investment Insights
Based on property information with market context.
Fircrest Apartments presents an opportunity to acquire a 30-unit USDA Affordable Housing community in Myrtle Point, Oregon. The property is suited for Affordable Housing investors seeking to preserve long-term USDA affordability or pursue a contract renewal strategy upon subsidy contract expiration. The unit mix comprises 10 one-bedroom, one-bath units, 16 two-bedroom, one-bath units, and 4 three-bedroom, one-bath units. Twenty units have project-based HUD Section 8 assistance, and 10 units have Rural Development 515 assistance. The current USDA contract is set to expire in 2039. Significant investments have been made in the property over the past decade, including replacing the roofs on all buildings, repainting exteriors and interiors, and replacing flooring in specific units. Turnover units are consistently brought to market standards, and necessary repairs are made. Ownership has completed proper maintenance routines to support long-term asset performance and site stability. Myrtle Point is a small, stable rural-coast-valley community that serves as a regional gateway to Oregon’s South Coast. It is approximately one hour by car from Roseburg, Oregon, providing access to the Interstate 5 corridor for employment, services, or larger-market amenities. The local economy in Myrtle Point has historical roots in the timber and agricultural sectors, with recent employment concentrated in retail trade, health care & social assistance, and accommodation & food services.
Key Highlights
- 30‑unit USDA Affordable Housing community, providing stable investment opportunity.
- Attractive mix of unit types: 10 1‑bed, 16 2‑bed, and 4 3‑bed.
- Features a combination of project‑based HUD Section 8 (20 units) and Rural Development 515 assistance (10 units).
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Fircrest
Social Service Agency
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FAQs
What type of property is this?
Apartment building - 30-unit apartment community in Myrtle Point, Oregon.
Where is this apartment building located?
The property is located at 1140 19th St Myrtle Point, OR.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 30‑unit USDA Affordable Housing community, providing stable investment opportunity.; Attractive mix of unit types: 10 1‑bed, 16 2‑bed, and 4 3‑bed.; Features a combination of project‑based HUD Section 8 (20 units) and Rural Development 515 assistance (10 units).
