Current Use by Public Records
- Apartment buildings
Property Details for 215-247 Sherman St
- Year built
- 2008
- Lot size
- 2.58 lot acres
- Property type
- Apartment buildings
Description
This exceptional 60-unit apartment complex, Falcon Ridge Estates, presents a compelling investment opportunity in Sutherlin, Oregon. Located at 215-247 Sherman Street, this property boasts 57,472 square feet across eight, two-story buildings situated on a 2.58-acre lot. Built in 2008, the complex offers a mix of studio, one-, two-, and three-bedroom apartments, each averaging $958 in monthly rent. Units feature desirable amenities including fully equipped kitchens with dishwashers and built-in microwaves, faux-wood flooring, in-unit washers and dryers, and large patios and balconies with extra storage. Top-floor apartments include vaulted ceilings. The property also includes 101 parking spaces, carports, available garages and storage units, covered bike racks, and on-site laundry facilities. The asking price is $11,500,000, representing a price per unit of $191,667 and a price per square foot of $200. The property enjoys a 5.88% cap rate and a land value of $200 per square foot. Falcon Ridge Estates benefits from its convenient location in Sutherlin, offering residents a small-town atmosphere with easy access to Interstate 5 and nearby amenities in Roseburg and other larger cities. This well-maintained property presents a strong potential for continued growth and profitability.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sutherlin
- County
- Douglas
- State
- Oregon
- Longitude
- -123.324
- Latitude
- 43.3892
