19-Unit Single-Level Apartment
For Sale
$5,295,000
1221 Skeeters Ln, Medford, OR 97504
Individual tax lots, private outdoor areas, garages, and separately metered utilities support flexible ownership and resident operations.
Property Size24,896 SF
Days on Market174
Property Features for 1221 Skeeters Ln
General Information
Standard status
Active
Size
24,896 SF
Property subtype
Multifamily
Occupancy
95%
Units
Unit Mix
8 x 2BR/2BA, 11 x 3BR/2BA
Multifamily Units
19
Additional Details
Cap Rate
6.02%
Utilities to Site
Yes
Amenities
vaulted ceilings
private fenced backyards
covered patios
two-car garages
full-size laundry hookups
central air conditioning
manicured landscaping
wide internal streets
manicured sidewalks
Flexible Exit Strategy: With individual tax lots and condominium status in place, future owners can explore a range of strategies.
Strong Tenant Demand for Single-Level Living: PineHurst offers a product rarely replicated in today's multifamily market.
Efficient, Low-Maintenance Operations: Separately metered utilities, resident-paid trash, and self-contained homes mean reduced maintenance obligations and lean expense ratios.
Strategic Location in a Growth Market: Medford continues to attract population growth driven by its affordability, healthcare employment base, and desirable lifestyle.
Building Details
Building Size
24,896 SF
Year Built
1998
Stories
1
Units
19
Listing Agency:
Portland Office
Listed By:
Joshua Reynolds · License #License(s): OR: 201237753
(503) 200-2072
Source:
Marcusmillichap
Added: May 14
Changed: Oct 26
Last Checked: Nov 1 at 2:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Portland Office
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Investment Insights
Based on property information with market context.
Built in 1998, this 19-unit apartment community consists of single-level condominium homes on individual tax lots. The unit mix includes eight two-bedroom, two-bath residences and eleven three-bedroom, two-bath residences. Features across the community include vaulted ceilings, fenced backyards, covered patios, two-car garages, full-size laundry hookups, and central air conditioning.
Each residence has separate water, sewer, and electric metering, while residents pay their own trash service. A single entry serves the property, which also includes landscaped grounds, internal streets, and sidewalks. The community is located at 1221 Skeeters Lane in Medford, near Providence Medical Center, schools, Safeway, The Village at Medford Center, and regional employers.
Each residence has separate water, sewer, and electric metering, while residents pay their own trash service. A single entry serves the property, which also includes landscaped grounds, internal streets, and sidewalks. The community is located at 1221 Skeeters Lane in Medford, near Providence Medical Center, schools, Safeway, The Village at Medford Center, and regional employers.
Key Highlights
- 19 single‑level condominium units on individual tax lots
- Unit mix includes eight 2‑bedroom/2‑bath and eleven 3‑bedroom/2‑bath homes
- Each residence includes a two‑car garage, fenced backyard, and covered patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$234,147
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,682,940
$4.7M
Cap Rate 7%
$3,344,957
$3.3M
Cap Rate 9%
$2,601,633
$2.6M
Market Conditions
NOI Build-Up for 24,896 SF
Gross rent
$448.1K $18.00/SF
− Vacancy
−$22.4K −$0.90/SF
EGI
$425.7K $17.10/SF
− OpEx
−$191.6K −$7.69/SF
NOI
$234.1K $9.41/SF
Area
Jackson County, OR
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,682,940
Cap Rate 7%
$3,344,957
Cap Rate 9%
$2,601,633
Alternative Uses
Best Use
Apartment 5plus
$3.34M
$2.93M – $3.90M
NOI $234,147 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.01M
$5.26M – $7.01M
NOI $420,643 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
19
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,684
Businesses Nearby
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Business Placement
Demographics for 97504, OR
49,942
Population
21,290
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
93%
High-School Grad
43.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$81,233
Median Household Income
$43,744
Median Earnings
$1,387
Median Rent
$447,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Individual tax lots, private outdoor areas, garages, and separately metered utilities support flexible ownership and resident operations.
Where is this apartment building located?
The property is located at 1221 Skeeters Ln Medford, OR.
What is the asking price?
The asking price for this property is $5,295,000.
What are key features of this property?
This property features: 19 single‑level condominium units on individual tax lots; Unit mix includes eight 2‑bedroom/2‑bath and eleven 3‑bedroom/2‑bath homes; Each residence includes a two‑car garage, fenced backyard, and covered patio
