525 15Th St Pendleton, OR 97801
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 525 15Th St
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a portfolio of eleven buildings comprising forty apartment units in Pendleton, Oregon. The property, totaling 35,229 net rentable square feet, is offered at $4,675,000, representing a price per square foot of $133.02 and a price per unit of $116,875. Built between 1941 and 1977, the buildings feature a mix of duplexes, fourplexes, and sixplexes, all situated on 525 NW 15th St, Pendleton, OR 97801. The property boasts a current cap rate of 6.69%, with a pro-forma cap rate projected at 9.72%, indicating significant potential for increased profitability. Improvements include newer vinyl windows and roofs throughout, and all units feature laundry hookups. The property's Class C designation and value-add investment type suggest opportunities for rental income growth through improved management and unit upgrades. The fee-simple ownership provides complete control and potential for long-term appreciation. This portfolio offers a compelling combination of historical significance, solid current performance, and substantial upside potential. The property is available for purchase as a whole portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pendleton
- County
- Umatilla
- State
- Oregon
- Longitude
- -118.803
- Latitude
- 45.6767
