650 5Th St Brookings, OR 97415
Value-add apartment complex near schools and commercial corridor.
Property size:
19,400 SFProperty Features for 650 5Th St
General Information
- Size
- 19,400 SF
Building Details
- Year built
- 1977
Source:
Svn
Listing 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
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.