2394 Marion St
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2394 Marion St
12 Unit Apartment Building $1,450,000 ($120,833/Unit) 6.64% Cap Rate North Bend, OR 97459
Investment Highlights
- Large Fenced-In Yards with Mature Landscaping
- Coin-Operated Facility On-Site
- Multiple Updated Interiors
Executive Summary
Marcus & Millichap is excited to exclusively represent the sale of Marion Street Apartments, two adjoining apartment buildings located
in North Bend, Oregon. This well-kept complex includes a total of 12 units, along with a laundry facility and additional storage units,
making it an appealing investment prospect.
The Marion Street Apartments consist of 9 two-bedroom units, 2 one-bedroom units, and 1 studio, all featuring open layouts that
enhance the living experience. All of the units are designed in a garden-style layout, with over half featuring back patios and spacious
fenced front yards, perfect for tenants looking for outdoor space and a house-like environment.
There is an opportunity to increase rental income by aligning rents with the highest proven and continuing upgrades with premium finishes
such as stainless steel appliances, quartz countertops and modern hardware packages. The complex has undergone numerous
upgrades, including modernized electrical and plumbing systems, several new electric panels, and updated water heaters and many
interiors tuned to a quality workforce housing option.
in North Bend, Oregon. This well-kept complex includes a total of 12 units, along with a laundry facility and additional storage units,
making it an appealing investment prospect.
The Marion Street Apartments consist of 9 two-bedroom units, 2 one-bedroom units, and 1 studio, all featuring open layouts that
enhance the living experience. All of the units are designed in a garden-style layout, with over half featuring back patios and spacious
fenced front yards, perfect for tenants looking for outdoor space and a house-like environment.
There is an opportunity to increase rental income by aligning rents with the highest proven and continuing upgrades with premium finishes
such as stainless steel appliances, quartz countertops and modern hardware packages. The complex has undergone numerous
upgrades, including modernized electrical and plumbing systems, several new electric panels, and updated water heaters and many
interiors tuned to a quality workforce housing option.
Property Facts
| Price | $1,450,000 | Building Class | C |
| Price Per Unit | $120,833 | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 8,550 SF |
| Cap Rate | 6.64% | No. Stories | 2 |
| No. Units | 12 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.99/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,450,000 |
| Price Per Unit | $120,833 |
| Sale Type | Investment |
| Cap Rate | 6.64% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 8,550 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.99/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | 750 |
| 1+1 | 2 | - | 650 |
1 of 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $511,870 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$511,870
zoning
| Zoning Code | RM |
| RM |
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2394 Marion St
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