Madras, OR 97741,214 SW M ST
Madras, OR 97741,214 SW M ST
Madras, OR 97741,214 SW M ST
Madras, OR 97741,214 SW M ST
Madras, OR 97741,214 SW M ST
Madras, OR 97741,214 SW M ST
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Listed by Iron Gate Realty Group
Bought with Coho Realty

$445,000

$460,000

3.3%
Est.Price: ?

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Est. payment /mo

2,263 SqFt


SOLD DATE : 05/06/2024

Key Details

Sold Price $445,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,263 sqft

Price per Sqft $196

MLS Listing ID 23144399

Sold Date 05/06/24

Year Built 1952

Annual Tax Amount $2,151

Tax Year 2022

Property Description

Seller to contribute $15k towards rate buydown! Fully occupied 5 plex in the heart of Madras with 6.5% cap rate. Rents total $3,725/mo! Unit mix is Two units w/ 2beds,1bath, and three studios. Property has just undergone a full rewire, allowing future landlord to start to have tenant pay for there own electricity adding to the NOI and boosting value of property. Other upgrades include a fresh exterior paint job, re-graveling of parking areas and various units have been upgraded at turnover. This property is fully rented and managed by an incredible local management company that keeps it occupied all the time. Madras continues to be a growing market as higher rents in the Bend and Redmond market drive people to live in more affordable areas. Don't miss this opportunity to own this great cash flowing turnkey investment property. Showings will be allowed with accepted offer. Listing agent is also part owner. No sign on property, please do not disturb tenants. Property could be converted to a 4plex for easier financing. Call LA for details!

Location

State OR

County Jefferson

Area _340

Zoning R1

Rooms

Basement Crawl Space

Interior

Heating Zoned

Cooling Wall Unit

Exterior

View Territorial

Roof Type Composition

Garage No

Building

Lot Description Corner Lot, Level

Story 1

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 1

Schools

Elementary Schools Buff

Middle Schools Jefferson Co

High Schools Madras

Others

Acceptable Financing Conventional, VALoan

Listing Terms Conventional, VALoan

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Regional Multiple Listing Service (RMLS)
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2175 NW Raleigh St. # 110, Portland, OR, 97210, United States

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