Lincoln ElemElementary School
North MiddleMiddle School
Grants Pass HighHigh School
816 NE 8th Street provides a great opportunity in central Grants Pass to acquire 6-units at a competitive basis. Centrally located just blocks from Downtown, the property's easy access is highlighted by a strong operating history. The complex features 6 units, each w/ a unique floorplan. While constructed in the late 1800's, building has had extensive repairs and upgrades completed: new plumbing, roofing, and other fixtures and systems. The current owner has operated the property for multiple years and has kept up on maintenance. Rents have recently been increased by the State-wide maximum of 14.6%. However, the majority of units are still approximately 15-25% below market. Positioned as an ideal long-term investment, the rent roll's loss-to-lease, as well as improvements to the property and potential utility reimbursements provide an opportunity for the Buyer to add significant near-term value. Sale contingent on Seller finding suitable replacement property (already identified).
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Listing Agent: Caspian C Hoehne
Listing Office: Merit Commercial RE, LLC