1140 19th St Myrtle Point, OR 97458

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.