214 SW M St Madras, OR 97741
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!
|2 weeks ago||Listing updated with changes from the MLS|
|2 weeks ago||Price changed to $469,000|
|a month ago||Price changed to $489,000|
|2 months ago||Listing first seen online|