Listed by SMI Real Estate
$630,000
Klamath Falls 7 Plex
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,000
Units 7
Tenancy Multi
Class C
Buildings 1
Acreage 0.170
Zoning A - Apartment Residential
Investment Type Value Add
7-unit Home Conversion with Rental Upside in downtown Klamath Falls, OR.
Marketing description
7-unit Cedar Apartments located in downtown Klamath Falls with major improvements completed, including new front deck and ADA ramp, roof repairs with 10-year elastomeric coating, updated lighting, plumbing/electrical repairs, fresh common-area paint, and off-street parking. Units 2, 5, 6, and 7 have been updated, Unit 3 renovation is underway, and Units 1 and 4 have long-term tenants. Shared basement laundry and value-add upside.
Units are a mix of (2) 2 bed / 1 bath and (5) 1 bed / 1 bath. Please do not disturb the residents.
Investment highlights
- 7 Units
- (2) 2 Bed / 1 Bath
- (5) 1 Bed / 1 Bath
- New front deck and ADA-accessible ramp
- Exterior siding repaired where needed
- Exterior trim repaired and replaced as needed
- Exterior painted where needed
- Roof repairs completed where needed
- Roof sealed with three coats of 10-year elastomeric roof coating
- Driveway and parking areas re-graveled
- Regrouted exterior stone and additional masonry areas as needed
- New hot water heater
- Plumbing repairs completed as needed
- Electrical repairs completed as needed
- New lighting installed where needed
- Electric heaters replaced/updated as needed (including HUD-required upgrades)
- Extensive drywall repairs throughout building
- Damaged drywall replaced where affected by previous varmint activity
- Entire building professionally treated to eliminate inherited varmint infestation
- Repairs completed and affected areas cleaned
- Primed and painted following drywall repairs
- Common areas freshly painted, including: Main foyer, Stairways, Hallways, Basement, Shared laundry room
- Shared basement laundry facilities
- Large open foyer
- Off-street parking
- On-street parking
Listing Contacts
Listed by SMI Real Estate
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Zoning
A ResidentialMulti FamilyApartment Residential
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