2408 W 10th St.
- • Located in Wasco County, minutes from Hood River and the Columbia River Gorge
- • Spacious units averaging 953 square feet, featuring family-friendly floorplans
- • Well-maintained buildings with low ongoing maintenance requirements
- • Limited nearby multifamily competition supports long-term rent growth potential
- • Consistently low vacancy rates reflect strong demand and below-market rents
- • Situated on a serene 3.12-acre residential site with mature landscaping
- • Value-add opportunity through rent adjustments, RUBS, and modest interior upgrades
Property Description
This 48-unit multifamily community comprises eight buildings situated on 3.12 acres, encompassing approximately 45,732 rentable square feet with an average unit size of 953 square feet. Constructed in 1971, the property offers an attractive unit mix of forty- two (42) two-bedroom, 1.5 bath units averaging 928 square feet, and six (6) three-bedroom, 1.5-bath units—three at 1,066 square feet and three at 1,186 square feet. Current rents range from $1,200 to $1,635 per month, producing approximately $68,390 in monthly income, with market potential reaching up to $71,760. With consistently high occupancy, solid in-place income, and tangible upside through rent growth and renovations, this asset represents a compelling investment opportunity in a strong and established suburban market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $7,200,000 |
| No. of Units: | 48 |
| Year Built: | 1971 |
| Lot Size: | 3.12 Acres |
| Opportunity Zone: | No |
| Price per unit: | $150,000 |
| Property Website | Click Here |
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