Well-Maintained 8-Unit Apartment
For Sale
$1,395,000
501 Briarwood Dr, Central Point, OR 97502
Open kitchens, private patios, and individual exterior storage support practical apartment layouts.
Property Size7,300 SF
Price / SF$191.10
Days on Market66
Property Features for 501 Briarwood Dr
General Information
Standard status
Active
Size
7,300 SF
Property subtype
Multi-Family
Building Details
Year Built
2006
Listing Agency:
John L Scott Real Estate Grants Pass
(541) 476-1299
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Aug 15
Changed: Oct 16
Last Checked: Oct 19 at 7:17AM
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 John L Scott Real Estate Grants Pass
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Investment Insights
Based on property information with market context.
Located at 501 Briarwood Dr in Central Point, this 7,300-square-foot apartment property contains 8 units completed in 2006. The building has remained with one owner since construction and offers functional floor plans with open kitchens, substantial storage, private patios, and individual exterior storage closets. Approximately four units feature updated LVP flooring, while finishes and condition vary somewhat among the units.
Covered tenant parking is supplemented by a large parking area for visitors. The property has a history of long-term tenancy and limited vacancy, with no HOA. The improvements are described as well maintained, with no significant deferred maintenance identified in the property information.
Covered tenant parking is supplemented by a large parking area for visitors. The property has a history of long-term tenancy and limited vacancy, with no HOA. The improvements are described as well maintained, with no significant deferred maintenance identified in the property information.
Key Highlights
- 8‑unit apartment property totaling 7,300 square feet
- Built in 2006 and held by one owner since construction
- Open kitchens, private patios, and individual exterior storage closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,657
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,373,140
$1.4M
Cap Rate 7%
$980,814
$980.8K
Cap Rate 9%
$762,856
$762.9K
Market Conditions
NOI Build-Up for 7,300 SF
Gross rent
$131.4K $18.00/SF
− Vacancy
−$6.6K −$0.90/SF
EGI
$124.8K $17.10/SF
− OpEx
−$56.2K −$7.69/SF
NOI
$68.7K $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%
$1,373,140
Cap Rate 7%
$980,814
Cap Rate 9%
$762,856
Alternative Uses
Best Use
Apartment 5plus
$980.8K
$858.2K – $1.14M
NOI $68,657 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,341 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
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Business Placement
Demographics for 97502, OR
29,558
Population
11,717
Households
2.5
Avg Household Size
43
Median Age
21%
College-Educated
89%
High-School Grad
82.1 sq mi
ZIP Area
360
Density / Sq Mi
$79,146
Median Household Income
$42,667
Median Earnings
$1,245
Median Rent
$374,000
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 - Open kitchens, private patios, and individual exterior storage support practical apartment layouts.
Where is this apartment building located?
The property is located at 501 Briarwood Dr Central Point, OR.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling 7,300 square feet; Built in 2006 and held by one owner since construction; Open kitchens, private patios, and individual exterior storage closets
