Three-Two-Story Multifamily
For Sale
$619,000
248 South Street 1 - 9, Butte Falls, OR 97522
Nine occupied units in three two-story buildings, separately metered electric, with central air and 18 parking spaces.
Days on Market63
Property Features for 248 South Street 1 - 9
General Information
Standard status
Active
Property subtype
Multifamily
Listing Agency:
Coldwell Banker Commercial Professional Group
(541) 608-2050
Listed By:
Robert Jellesed · License #201225921
(541) 608-2050
Source:
Cbcworldwide
Added: Jun 2
Changed: Jul 23
Last Checked: Jul 23 at 2:56AM
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 Coldwell Banker Commercial Professional Group
Investment Insights
Based on property information with market context.
This residential multifamily property consists of three two-story buildings with nine total units. The buildings total approximately 6,200 SF on 0.43 acres and were built in 2002. All nine units are currently occupied. Unit C3 (2BR/1BA) has been fully refurbished with new flooring, windows, paint, and appliances.
Each unit is separately metered for electric. The owner pays water/sewer, garbage, and common-area utilities. Building systems include central air and forced-air electric heat, with vinyl double-pane windows. Each unit has private storage via an individual storage shed, and the property provides 18 parking spaces.
With the current rent roll and associated operating numbers provided, the stabilized NOI is approximately $44,300, with a pro forma stabilized NOI of approximately $55,600 after Unit C3 is leased. Approximately 47–48% of gross income is supported by HUD Section 8 HAP under a portion of the current income structure described in the remarks.
Each unit is separately metered for electric. The owner pays water/sewer, garbage, and common-area utilities. Building systems include central air and forced-air electric heat, with vinyl double-pane windows. Each unit has private storage via an individual storage shed, and the property provides 18 parking spaces.
With the current rent roll and associated operating numbers provided, the stabilized NOI is approximately $44,300, with a pro forma stabilized NOI of approximately $55,600 after Unit C3 is leased. Approximately 47–48% of gross income is supported by HUD Section 8 HAP under a portion of the current income structure described in the remarks.
Key Highlights
- Nine occupied units across three two‑story buildings, totaling ±6,200 SF on 0.43 acres, built in 2002
- Unit C3 (2BR/1BA, 900 SF) is fully refurbished with new flooring, windows, paint, and appliances
- About 47–48% of gross income comes from HUD Section 8 HAP
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
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Demographics for 97522, OR
606
Population
253
Households
2.4
Avg Household Size
48
Median Age
9%
College-Educated
96%
High-School Grad
46.7 sq mi
ZIP Area
13
Density / Sq Mi
$47,083
Median Household Income
$33,304
Median Earnings
$817
Median Rent
$229,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nine occupied units in three two-story buildings, separately metered electric, with central air and 18 parking spaces.
Where is this apartment building located?
The property is located at 248 South Street 1 - 9 Butte Falls, OR.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Nine occupied units across three two‑story buildings, totaling ±6,200 SF on 0.43 acres, built in 2002; Unit C3 (2BR/1BA, 900 SF) is fully refurbished with new flooring, windows, paint, and appliances; About 47–48% of gross income comes from HUD Section 8 HAP
