2220-2224 Crater Lake Avenue

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Address: 2220 Crater Lake Ave, Medford, OR 97504, USA
Created date: June 20, 2024
Date last updated: June 20, 2024

Property Description

Welcome to East Medford's prime residential investment! Two contemporary 4-plexes, 2017-built, boast 8 townhouse-style units. Fully occupied, well maintained, ideal for savvy investors. Each building features two 3-bed, 2.5-bath & two 2-bed, 2-bath units with a modern design and well appointed interiors, catering to diverse tenant needs. All units are equipped with appliances including ranges, dishwashers, refrigerators and washers and dryers. Ideal location provides easy access to amenities, making it highly desirable to tenants. Fully occupied with below market rents, offering income appreciation potential. Newer construction offers exempt status from state rent control, allowing rental rate adjustments to reflect market trends. Current Cap at a respectable 5.4%, poised to reach 6.7% with market-aligned rents. Buyers advised to verify rental regulations. Possible lot split separating the Two 4 plexes for future financing advantages. Buyer to check with the city on possibilities.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,700,000
No. of Units: 8
Year Built: 2017
Opportunity Zone: No
Price per unit: $212,500
Property Website Click Here
Number of Bedrooms: 0
Number of Bathrooms: 0
Address: 2220-2224 Crater Lake Avenue, Medford, OR 97504, USA
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