Up for sale is the Wells Manor 32 apartment complex that includes 9 two bedroom units and 23 single bedroom units. There is also 36 storage unit building that is included. The seller owns the buildings & leases the land of which has about 10 years remaining on the land lease agreement. The apartments have a laundry mat of 3 washers & 3 dryers. Off street parking is included for the tenants. Great income opportunity with owner terms.
Off market
$589,700
1601 N Albany St, La Grande, OR 97850
3beds
20,000sqft
MultiFamily
Built in 1977
-- sqft lot
$589,700 Zestimate®
$29/sqft
$1,300 Estimated rent
Owner options
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Baseboard
Cooling
- None
Appliances
- Included: Refrigerator
Features
- Refrigerator, Range
Interior area
- Total interior livable area: 20,000 sqft
Property
Features
- Has view: Yes
- View description: Mountain
Lot
- Size: 2,996 sqft
- Features: Level
Details
- Parcel number: 183
- Zoning: LG-GC
Construction
Type & style
- Home type: MultiFamily
Materials
- Roof: Composition
Condition
- Year built: 1977
- Major remodel year: 1977
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: La Grande
Other
Other facts
- Sewer: Public Sewer
- WaterSource: Public
- Heating: Baseboard
- HeatingYN: true
- CurrentFinancing: Conventional, Contract, Cash
- Roof: Composition
- LotFeatures: Level
- NumberOfUnitsInCommunity: 32
- NumberOfUnitsTotal: 32
- YearBuiltEffective: 1977
- Zoning: LG-GC
- AssociationAmenities: Laundry
- ParkingFeatures: Paved
- InteriorFeatures: Refrigerator, Range
- ViewYN: Yes
- CommunityFeatures: Laundry
- ExteriorFeatures: Individual Storage Units
- CapRate: 16.47
- GrossIncome: 173911
- OperatingExpense: 103068
- MlsStatus: Pending