589 10Th Ave Coos Bay, OR 97420
- Small apartment buildings
- 2,978 SF
- 0.18 lot acres
Current Use by Public Records
- Small apartment buildings
Property Details for 589 10Th Ave
- Year built
- 1972
- Lot size
- 0.18 lot acres
- Property size
- 2,978 SF
- Property type
- Small apartment buildings
- APN
- 4073100
Description
This stabilized triplex in Coos Bay, Oregon, presents a compelling investment opportunity. Located at 589 10th Ave, this 2-story, 1972-built property features three units totaling 2,978 square feet on a 0.18-acre lot. The property boasts a 7.29% cap rate and a strong net operating income (NOI) of $33,450, with 100% occupancy. The units are well-maintained, offering a mix of sizes and layouts to maximize rental income. Two main floor units each measure 744 square feet, each with two bedrooms and one bathroom. A larger downstairs unit provides 745 square feet, three bedrooms, and two bathrooms. An attached 745-square-foot garage and an owner's storage unit add further value. A brand new roof was installed in June 2024. The property is zoned R-3 and features a desirable location in the Eastside neighborhood. The asking price is $459,000, translating to $154.13 per square foot. This property is ideal for investors seeking a stable, high-return investment in a thriving community. The property's strong cash flow, combined with its recent roof replacement, minimizes immediate maintenance concerns. This is a turnkey investment ready for immediate income generation. The property's location in the Eastside neighborhood offers convenient access to local amenities and public transportation. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. The property's APN is 4073100. This offering is suitable for a 1031 exchange.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Coos Bay
- County
- Coos
- State
- Oregon
- Longitude
- -124.1893198
- Latitude
- 43.3622913
