361 14Th Ave Eugene, OR 97401

This exceptional 20-unit apartment building in Eugene, Oregon presents a compelling investment opportunity. Located at 361 E 14th Ave, this three-story, 8,884 square foot property sits on a 0.26-acre lot and is zoned R-4. Built in 1951, the Selma Apartments currently boasts a fully leased occupancy with a mix of unit types: four studios, seven one-bedroom, and nine two-bedroom units, totaling 29 bedrooms. The property benefits from on-site laundry and parking, and features recently updated exterior paint. Its prime location, just three blocks from the University of Oregon campus, ensures high demand. Currently operating with 20% of rents below market value, a significant increase in profitability is projected. Financial projections indicate a Net Operating Income (at market rents) of $171,634, resulting in a 6.36% capitalization rate. This property is offered at $2,700,000 and is suitable for a 1031 exchange. The strong cash flow potential, coupled with the desirable location and recent improvements, makes this a truly attractive investment. The property's well-maintained landscaping and convenient amenities further enhance its appeal to tenants. This is a rare opportunity to acquire a stable, high-performing multifamily asset in a thriving university town.