Apartment Building with
1988 Skypark, Medford, OR 97504
For Sale
$799,000
Eight two-bedroom, two-bath residences are arranged across two buildings on one lot.
Property Size3,804 SF
Price / SF$210.04
Days on Market181
Property Features for 1988 Skypark
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Cascade Hasson Sotheby's International Realty
(541) 330-8505
Listed By:
Laurie Starr · License #201206959
(541) 840-0247
Source:
Desertskyrealestate
Added: May 13
Changed: Nov 8
Last Checked: Nov 8 at 1:44PM
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 Cascade Hasson Sotheby's International Realty
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Investment Insights
Based on property information with market context.
The property comprises two apartment buildings with eight units in total, all on one lot. Each residence has a two-bedroom, two-bath layout and two porches. Built in 2004, the buildings have a new roof and on-site parking. The property is zoned Mfr-20 and is located at 1988 Skypark in Medford, Oregon.
Key Highlights
- Eight apartment units across two buildings on one lot
- Each residence has 2 bedrooms, 2 bathrooms, and 2 porches
- New roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,777
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,540
$715.5K
Cap Rate 7%
$511,100
$511.1K
Cap Rate 9%
$397,522
$397.5K
Market Conditions
NOI Build-Up for 3,804 SF
Gross rent
$68.5K $18.00/SF
− Vacancy
−$3.4K −$0.90/SF
EGI
$65.0K $17.10/SF
− OpEx
−$29.3K −$7.69/SF
NOI
$35.8K $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%
$715,540
Cap Rate 7%
$511,100
Cap Rate 9%
$397,522
Alternative Uses
Best Use
Apartment 5plus
$511.1K
$447.2K – $596.3K
NOI $35,777 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.2K
$803.4K – $1.07M
NOI $64,272 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
503
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
$447,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Jackson County, OR
Properties on Market for Apartment buildings in Jackson County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom, two-bath residences are arranged across two buildings on one lot.
Where is this apartment building located?
The property is located at 1988 Skypark Medford, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Eight apartment units across two buildings on one lot; Each residence has 2 bedrooms, 2 bathrooms, and 2 porches; New roof
