1702 Fairview Ave Grants Pass, OR 97526
- Commercial real estate
- 5,441 SF
- 0.30 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1702 Fairview Ave
- Year built
- 1988
- Lot size
- 0.30 lot acres
- Property size
- 5,441 SF
- Property type
- Commercial real estate
- APN
- R309421
Description
This exceptional five-unit apartment complex presents a compelling investment opportunity in Grants Pass, Oregon. Located at 1702 NE Fairview Ave, this property boasts 5,441 square feet across two buildings, a two-story triplex and a single-story duplex, all situated on a 0.3-acre corner lot. Built in 1988, the property is zoned R-4 and offers a desirable blend of established income and growth potential. Currently, all five units are occupied, demonstrating low turnover and consistent rental income. Rents have been regularly adjusted to reflect market growth, and the current rent roll indicates further rental increase opportunities. The property generates a Net Operating Income (NOI) of $54,587, resulting in a 6.10% capitalization rate. The asking price is $895,000, translating to $179,000 per unit and $164.49 per square foot. Its central location provides easy access to I-5, schools, parks, shopping, dining, and recreational activities, including the Rogue River and Crater Lake National Park. This property is ideally suited for a 1031 exchange. The property's strong cash flow, prime location, and potential for future rent increases make it an attractive investment for discerning buyers.
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
- Grants Pass
- County
- Josephine
- State
- Oregon
- Longitude
- -123.30766177848
- Latitude
- 42.438136185538
