305 NW 8th Ave Active Save Request In-Person Tour Request Virtual Tour
Ontario,OR 97914
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 13,420 sqft
Price per Sqft $160
Subdivision 0 Not Applic.
MLS Listing ID 98921892
Year Built 1970
Annual Tax Amount $7,539
Tax Year 2023
Property Sub-Type Apartment
Property Description
7% cap rate on current rents and rents are still being raised to market. Almost the entire property was renovated in 2022 through 2023. Unit mix consists of 18 units with one bath per unit: 2 Studio units; 4 one bed units; 12 two bed units. New landscaping was added in 2022 with automatic irrigation and sprinklers. A new roof membrane was installed by Lassiter roofing in 2022. The exterior was painted in 2022. 90% of the windows were replaced in 2022. Laundry room was updated and includes two washers and two dryers. A fence was added on the west and North side of the property in 2022. Lots of room to keep raising rents over the next couple of years as Ontario is very tight in the housing market and there are very few rentals available in the area. The property is managed by Century 21. Listing broker is related to the seller.
Location
State OR
County Malheur
Area Ontario - 1600
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Flooring Laminate
Laundry Washer/Dryer Hookups (No Units)
Exterior
Fence Wood
Community Features 5+ Units
Utilities Available Sewer Connected
Roof Type Other
Building
Lot Description 10000SF - .49
Foundation Crawl Space
Water City Service
Structure Type Concrete,Vinyl Siding
New Construction No
Schools
Elementary Schools Ontario
High Schools Ontario
School District Ontario School District 8C
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional