745 15Th Ave Eugene, OR 97401
- Dormitories
- 29,720 SF
- 0.25 lot acres
Current Use by Public Records
- The Manor / Apartment Complex
Property Details for 745 15Th Ave
- Year built
- 1967
- Lot size
- 0.25 lot acres
- Property size
- 29,720 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional investment opportunity presents a 30-unit apartment building and an additional lot, ideally situated in Eugene, Oregon, just 1.5 blocks from the Knight Library at the University of Oregon. Built in 1967 with multiple renovations, this two-story building boasts 29,720 square feet and offers a mix of 1, 2, and 3-bedroom units, accommodating a total of 52 beds. The property includes 18 on-site parking spaces, a rare amenity in this location. An attractive feature is the inclusion of an additional lot, providing potential for future development. Currently generating a Net Operating Income (NOI) of $182,197, this property presents a strong cash flow with potential for increased revenue due to below-market rents. The building sits on a 0.25-acre lot and is zoned R4, allowing for a variety of uses. On-site laundry facilities and an interior courtyard enhance the resident experience. This is a unique opportunity to acquire a well-located, income-producing asset with significant upside potential in a thriving university town. The asking price is $3,312,000.
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
- Eugene
- County
- Lane
- State
- Oregon
- Longitude
- -123.0812705
- Latitude
- 44.0436219
