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    650 5Th St Brookings, OR 97415

    For Sale
    $3,000,000

    Value-add apartment complex near schools and commercial corridor.

    Property size:
    19,400 SF

    Property Features for 650 5Th St

    General Information

    Size
    19,400 SF

    Building Details

    Year built
    1977

    Source: Bjorn Beer Agent Bjorn Beer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Brookings Multifamily Investment Opportunity

    Cedar Village Apartments presents investors with a value add project with only 10 turns remaining. Located near schools and the main commercial corridor, the complex is situated near public transit, public schools, and parks and recreation areas. The southern Oregon coast faces affordability and supply challenges. Coupled with positive net immigration from California, Cedar Village represents a strong value buy with a robust value add component. Located in Oregon's most South Western county, Brookings will benefit from long term trends as California emigrants search for more affordable housing options in Oregon. The property has rent upside. Ten out of the 20 units have been recently remodeled and two are in the process of a complete remodel. All apartments have working, certified fireplaces and stackable washer/dryer hook-ups. All remodeled apartments have new baseboard heaters and electrical outlets and switches. There are no individual balconies or yards. Many windows have been replaced in the last year. Each apartment has a one car garage with a large storage closet. Currently there is a no pet policy for new tenants. The property was built with high quality mill cedar. A May 2024 appraisal supports pricing. The property size is 19400 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Brookings
    County
    Curry
    State
    Oregon
    Longitude
    -124.2886454
    Latitude
    42.0582833

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    FAQs

    What type of property is this?
    Apartment building - Value-add apartment complex near schools and commercial corridor.
    Where is this apartment building located?
    The property is located at 650 5Th St Brookings, OR.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: - Value-add opportunity with only 10 units remaining to be remodeled.; - Strong rent upside potential.; - Located near schools, commercial areas, public transit, and parks.
    (541) 745-4050
    Request Owner's contact information
    650 5Th St Brookings, OR 97415
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    Brookings, OR 97415
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    650 5Th St Brookings, OR 97415
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