9-Unit Apartment Building with River
4600 Rogue River Highway, Grants Pass, OR 97527
For Sale
$1,190,000
Residential Income, Grants Pass, OR
Property Size5,699 SF
Lot Size1.19 Acres
Price / SF$208.81
Days on Market222
Property Features for 4600 Rogue River Highway
General Information
Property type
Property subtype
Zoning description
Parking features
Window features
Patio and Porch features
Interior features
Lot features
View
Elementary school
Middle school
High school
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
RV Sites
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
shared common area
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Millen Property Group
(541) 301-3435
Listed By:
Kenny Taylor · License OR #201214945
(541) 606-8616
Added: Apr 6
Changed: Nov 3
Last Checked: Nov 13 at 7:06AM
MLS# 220218684
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5,699-square-foot apartment property on 1.19 acres includes nine permanent units arranged around a three-bedroom main home, six one-bedroom cottages, one two-bedroom unit, and a studio. Several residences feature decks with views toward the Rogue River and surrounding mountains. The property also includes two RV parking spots, a laundry room, two storage spaces, and a shared common area. Construction dates to 1936, with frame construction, bungalow-style architecture, composition and asphalt roofing, and a mix of carpet, tile, and vinyl flooring.
Located at 4600 Rogue River Highway in Grants Pass, the property sits between Grants Pass and Medford. On-site infrastructure includes a well water source and septic tank sewer system. Parking is provided through a parking lot and driveway, while heating includes natural gas and wall furnaces. Cooling is provided by window and wall/window units.
Located at 4600 Rogue River Highway in Grants Pass, the property sits between Grants Pass and Medford. On-site infrastructure includes a well water source and septic tank sewer system. Parking is provided through a parking lot and driveway, while heating includes natural gas and wall furnaces. Cooling is provided by window and wall/window units.
Key Highlights
- 9 units: 3‑bedroom main home, six 1‑bedroom cottages, one 2‑bedroom unit, and a studio
- 5,699 square feet on 1.19 acres
- Two RV parking spots, laundry room, and 2 storage spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,970
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,400
$859.4K
Cap Rate 7%
$613,857
$613.9K
Cap Rate 9%
$477,444
$477.4K
Market Conditions
NOI Build-Up for 5,699 SF
Gross rent
$82.1K $14.40/SF
− Vacancy
−$3.9K −$0.69/SF
EGI
$78.1K $13.71/SF
− OpEx
−$35.2K −$6.17/SF
NOI
$43.0K $7.54/SF
Area
Josephine County, OR
Vacancy
4.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,400
Cap Rate 7%
$613,857
Cap Rate 9%
$477,444
Alternative Uses
Best Use
Apartment 5plus
$613.9K
$537.1K – $716.2K
NOI $42,970 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,453 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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Business Placement
Demographics for 97527, OR
36,358
Population
15,481
Households
2.3
Avg Household Size
49
Median Age
19%
College-Educated
90%
High-School Grad
219.8 sq mi
ZIP Area
165
Density / Sq Mi
$66,396
Median Household Income
$35,825
Median Earnings
$1,350
Median Rent
$408,200
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 - Cottages and a main residence share the property with laundry, storage, RV parking, and a common outdoor area.
Where is this apartment building located?
The property is located at 4600 Rogue River Highway Grants Pass, OR.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 9 units: 3‑bedroom main home, six 1‑bedroom cottages, one 2‑bedroom unit, and a studio; 5,699 square feet on 1.19 acres; Two RV parking spots, laundry room, and 2 storage spaces
