Property Description

Investor alert! With a 7% cap rate potential and currently operating at more than 5%This offering is a 4-unit complex, built in 1950, in John Day, Oregon. Unit 4, which has a private entry with a deck off the front, a lawn with mature apple and locust trees, while the fence line is covered in lush Virginia Creeper Vine maintained by in-ground sprinklers. This unit opens up to a large open-concept living room, 3 bedrooms, 2 bathrooms, an updated kitchen with pull-out shelving, complete with a dishwasher, range, and fridge. This unit stays cool with modern ceiling fans; it's heated with an oil stove, and the water is warmed by a solar-powered hot water heater. It features vinyl flooring and carpeted bedrooms.Unit 3 offers two bedrooms, one full bathroom, and a living room with timeless hardwood flooring and built-in cabinetry. The kitchen is complete with a fridge and range. Unit 2 is a studio apartment that is under a small remodel. It offers carpet and vinyl flooring, a full bathroom, and a kitchen with a range and fridge. Unit 1 offers 1 bedroom and 1 full bathroom with updated vinyl plank flooring, space-saving built-in cabinetry, and an electric hot water heater located in the kitchen. The kitchen offers a fridge and cook top with oven. This unit also has a back door with access to the shared courtyard.The rent includes water, sewer, garbage, and internet. Each unit is metered so the tenant pays for their own electricity. The building has vinyl siding, a metal roof, oil heat, vinyl windows, shared laundry, a shared 12'x16' storage shed, a shared courtyard with raised flower beds, and a parking lot. It has been well maintained by established renters and the owner. The building shares Grant County, Oregon history, being adjacent to the Kam Wah Chung and Co. State Heritage Site and was said to have once been owned by Dr. Wah. Suitable for a family, this property has the potential for VA, Conventional, and Business loan-approved buyers.