181 Bunnell Ave Grants Pass, OR 97526
- Commercial real estate
Current Use by Public Records
- Steinbrenner Roger W MD / Internist
- Paley Lori / Nursing Agency
- Linda Picker-Johnson / Medical Clinic / General Practitioner
Property Details for 181 Bunnell Ave
- Year built
- 1990
- Property type
- Commercial real estate
Description
This exceptional 8-unit apartment building in Grants Pass, Oregon, presents a compelling investment opportunity. Located at 181 NW Bunnell Ave, this single-story, 1990-built property underwent renovations two years ago. The building sits on a 4,170 square foot lot and features 10 parking spaces, ensuring ample convenience for residents. Currently boasting 100% occupancy with long-term tenants, the property generates a substantial net operating income (NOI) of $74,181, translating to an 8.24% capitalization rate. Each of the eight units includes its own kitchen and bathroom, contributing to high tenant satisfaction and retention. The asking price is $900,000, or $112,500 per unit. The property is zoned GC/R-4 and offers a strong pro-forma NOI of $74,181 and a pro-forma cap rate of 8.24%. The building's recent renovations and high occupancy rate contribute to its low maintenance requirements and strong financial performance. The property's annual gross income exceeds $97,000, projected to surpass $100,000 in 2025. This translates to a monthly net income exceeding $6,000. Potential buyers are responsible for conducting their own due diligence. This is a turnkey investment opportunity with significant potential for long-term growth and passive income.
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
- -123.3238709
- Latitude
- 42.45654
