816 NE 8th Street

816 NE 8th Street provides a great opportunity in desirable Grants Pass to acquire 6-units at a competitive basis. Centrally located just blocks from Downtown, the property's easy access is highlighted by a strong operating history. 

The complex features six units, each with a unique floorplan. The building, while constructed in the late 1800's, has had extensive repairs and upgrades completed, including entirely new plumbing, roofing, and other fixtures and systems. The current owner has operated the property for multiple years and has kept up on maintenance. 

Rents have recently been increased by the State-wide maximum of  14.6%. However, the majority of units are still approximately 15-25% below market. Positioned as an ideal long-term investment, the rent roll's loss-to-lease, as well as improvements to the property and potential utility reimbursements provide an opportunity for the Buyer to add significant near-term value.

The City of Grants Pass, with a population of 39,364 (County population 88,346), currently has an acute housing shortage, with City-wide vacancy approximately 2.00%. Few, if any, new housing projects are under development anywhere in the County. 

Southern Oregon is strategically located midway between Portland and San Francisco on Interstate-5, with convenient connections to the majority of the rest of the State. This good transportation network helps link the most populated cities in the region of Medford, Ashland, Jacksonville, and Grants Pass. The area enjoys a mild Mediterranean climate with four distinct seasons and mild winter. The growing economy is supported at large by the healthcare, retail, retirement services, and agriculture sectors.

Disclosure

Buyer to complete due diligence and confirm all information provided. All information herein is provided in good faith and is believed to be accurate. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein; all information contained herein is subject to change, errors, and omission and is subject to your independent verification. Merit Commercial Real Estate, LLC and seller assume no liability for inaccuracy contained herein. All structure size and acreage information is based on public records. All building size information is provided in good faith and believed to be accurate but is not a warranty or guarantee. Building sizes are based on both county records and physical measurements taken by listing brokerage.