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31827520
31827521

3653 West 18th Avenue, Eugene, OR, USA, Eugene, OR 97402

CC
OR OR 200506069
CENTURY 21 North Homes Realty Redmond
DH
OR 200002060
Evans, Elder Brown & Seubert
Listed by CENTURY 21 North Homes Realty Redmond, Evans, Elder Brown & Seubert
$24,500,000
48 days on market
Updated 41 days ago

Churchill Village Apartments | W 18th & Bailey Hill Rd.

Details
APN 17-04-34-40-00500
Property Type Multifamily
Sub Type Apartment Building, Apartment Complex (+2)
Square Footage 107,604
Units 242
Cap Rate 6.02%
NOI $1,473,714
Occupancy 92.9%
Tenancy Multi
Rent Bumps Yes
Price per SqFt $228
Broker Co-Op True
Year Built 1973
Year Renovated 2021, 2024, 2025
Buildings 48
Stories 1
Acreage 13.500
Zoning R-1
Parking Spaces 242 per unit
Investment Type Value Add
Occupancy Date 04/09/2026

Multifamily | 127 Units | $192,913/unit

Marketing description

Exceptional opportunity just coming available on the open market! Churchill Village Apartments is an 127-unit multi-family complex located in Eugene, Oregon, home of the University of Oregon. The garden style project is a mix of nine studio units, seventy 2-bed/1- bath units, and forty-eight 3-bed/1.5 bath units in forty-eight buildings. Additionally, the community features an ≈2,720 sf clubhouse/rec room building, playground, and basketball court for residents’ use.

The property is on the corner of Bailey Hill Road & West 18th Avenue, with frontage on both arterials, and directly across the street from Churchill High School, one of the five major public high schools servicing Eugene. The northerly boarder of the property is Village Avenue, a private road servicing the project and part of the 13.5 acre site.

All units have recently been upgraded with a ductless heating and cooling units. Most units have in-unit laundry hook-ups, as well as access to a six machine laundry facility off the community room. Most units feature vinyl plank flooring, stainless steel fridges, and private patio or yard space - in addition to access to the lush open common space on the site. The property has 242 parking spaces; half covered and half uncovered spaces. Each unit has a designated covered space, as well as, access to the open field parking of nearly two spaces per unit.

Investment highlights

Property owner's crown jewel out of the 1,700-property portfolio being offered for sale. Additional value add potential bringing rent rates up to market value.

Assumable loans at a favorable blended rate.

Prime established location.

Located in the desirable Eugene Oregon location, home of University of Oregon and the Oregon Ducks. Seller motivated to get the property sold.

Listing Contacts

CC
OR OR 200506069
CENTURY 21 North Homes Realty Redmond
DH
OR 200002060
Evans, Elder Brown & Seubert
Listed by CENTURY 21 North Homes Realty Redmond, Evans, Elder Brown & Seubert

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$1,473,714.00
$122,809.50/mo

Valuation Metrics

0
DSCR
6.02%
Cap Rate
6.02%
ROI

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Additional Information

Name
Corey Clark
License
OR 200506069
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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