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    212 Tavis Dr Merlin, OR 97532

    For Sale
    $1,999,999

    16-unit rental portfolio, high income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 16-unit rental portfolio situated on 8.06 acres in Merlin, Oregon, within Josephine County. The property consists of 16 individual lots, each equipped with well water, septic, and public power. Ten homes are owner-occupied, while six are tenant-owned, renting the land. Currently, 14 units generate approximately $164,000 in annual gross income. Two units are under repair and projected to add an additional $36,000 annually to the gross income, totaling nearly $200,000. The property is zoned Community Residential. This diverse portfolio offers flexibility; individual lots can be sold separately, allowing for tailored investment strategies. The convenient location near the Rogue River and Grants Pass provides access to abundant recreational opportunities and amenities. The property's strong income stream and efficient maintenance make it an attractive investment with significant future growth potential in a region known for its natural beauty and mild climate. One vacant lot is ready for development, offering further income expansion. This is a rare opportunity to acquire a high-yield property in a desirable Southern Oregon location.

    Property Features for 212 Tavis Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    351,094 SF

    Building Details

    Buildings
    16
    Units
    16

    HighLights

    • $1,999,999 asking price for a 16‑unit multifamily investment property.
    • 16 units on 8.06 acres in Merlin, Oregon, zoned Community Residential.
    • 14 of 16 units currently rented, generating approximately $164,000 annual gross income; potential for $200,000+ with full occupancy.
    • Each unit has well water, septic, and public power; 10 seller‑owned, 6 tenant‑owned.
    • Broker co‑op available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Realty agency Restaurant Law Firm Hair Salon Building Supply Auto Repair Shop Pharmacy Wholesale Shop Hotel & Motel Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Merlin
    County
    Josephine
    State
    Oregon
    Longitude
    -123.4201508
    Latitude
    42.5213311

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    FAQs

    What type of property is this?
    Multifamily property - 16-unit rental portfolio, high income potential.
    Where is this multifamily property located?
    The property is located at 212 Tavis Dr Merlin, OR.
    What is the asking price?
    The asking price for this property is $1,999,999.
    What are key features of this property?
    This property features: $1,999,999 asking price for a 16-unit multifamily investment property.; 16 units on 8.06 acres in Merlin, Oregon, zoned Community Residential.; 14 of 16 units currently rented, generating approximately $164,000 annual gross income; potential for $200,000+ with full occupancy.
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    212 Tavis Dr Merlin, OR 97532
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    Merlin, OR 97532
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    212 Tavis Dr Merlin, OR 97532
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