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28758797
28758798

1106 Emerson Dr, The Dalles, OR 97058

$2,920,000
182 days on market
Updated 24 days ago
Opportunity zone

"Emerson Cottages"

Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Units 17
Cap Rate 4.34%
NOI $126,840
Occupancy 90%
Pro-Forma Cap Rate 8.35%
Pro-Forma NOI $243,832
Broker Co-Op Yes
Year Built 1942
Buildings 9
Stories 1
Lot Size (SqFt) 40,075
Zoning Commercial
Investment Type Stabilized
Sale Condition 1031 exchange

Welcome to "Emerson Cottages", a 17-unit turnkey gem in the heart of The Dalles, Oregon.

Marketing description

This charming cluster of duplex cottages isn't just an investment, its a community. Sixteen of the units are two-bedroom, one-bath layouts with open kitchens and living areas, perfect for modern living with vintage charm. There is one studio unit that is currently used as an office (currently not rented), it can either generate additional rental income or offset costs for an on-site manager, flexibility that adds real value. The property is in good condition, with systematic upgrades completed as units are vacated, while additional upside exists for an investor ready to enhance the remaining units. Emerson Cottages meets the growing demand for quality housing in the area. Some units offer breathtaking views of the surrounding landscape, making Emerson Cottages a picturesque place to live. Step outside and enjoy the common area that includes a play structure. There is a separate on-site coin operated laundry room, and a true community atmosphere. With an average unit size of 730 square feet, this property blends charm, comfort, presenting a cash-flowing, turnkey investment with clear upside potential through renovation and rent optimization. Property is also located in an "opportunity zone!"

https://vimeo.com/1186308357?share=copy&fl=sv&fe=ci

Investment highlights

Check out the stunning up close video of the property and surrounding area!

https://vimeo.com/1186308357?share=copy&fl=sv&fe=ci

Listing Contacts

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$126,840.00
$10,570.00/mo

Valuation Metrics

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DSCR
4.34%
Cap Rate
4.34%
ROI

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Additional Information

Name
Dana Hindman-Allen
License
201203106
Brokerage
The Broker Network, LLC
Brokerage Phone
503.413.0527
Title
Broker of Record
Brokerage Address
320 N. Main Ave. #213 Gresham, Or 97030
Name
Dana Hindman-Allen
License
201203106
Brokerage Phone
5034130527
Brokerage Address
320 North Main Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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