REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by RealtyNET, LLC
$ 925,000
Est. payment | /mo
7,098 SqFt
$ 925,000
Est. payment | /mo
7,098 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,098 sqft
Price per Sqft $130
MLS Listing ID 624308093
Year Built 1938
Annual Tax Amount $3,150
Tax Year 2024
Lot Size 0.300 Acres
Property Description
Ivy Avenue Apartments is located in picturesque Tillamook, Oregon. Ivy Avenue Apartments offer a straightforward value-add proposition in a classic single-level layout. The asset is comprised of 12 units in studio, one- and two-bedroom floorplans. Four of the one-bedroom units match floorplans in other units that have been converted to two-bedroom units, allowing for an additional $75 monthly increase. A savvy investor could continue that conversion path to achieve greater rent upside during their ownership. Prospective Buyers to do their own due diligence on feasibility of conversion.Originally constructed in 1938, Ivy Avenue has received light updates over the years, but is still poised for curb appeal and interior improvements to capture tenants seeking higher-quality residential options in a town with exceptionally low vacancy and limited market-rate housing options.
Location
State OR
County Tillamook
Community Laundry
Area _195
Zoning Res
Rooms
Basement None
Interior
Heating Wall Heater
Cooling None
Exterior
Community Features Laundry
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Other
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools South Prairie
Middle Schools Tillamook
High Schools Tillamook
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
