531 11th ST Klamath Falls, OR 97601
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Klamath Falls -Nichols Addition
MLS Listing ID 220197643
Style Craftsman
Year Built 1930
Annual Tax Amount $3,669
Lot Size 5,662 Sqft
Acres 0.13
Lot Dimensions 0.13
Property Sub-Type Multi Family
Property Description
This well-maintained two-building apartment complex offers a consistent rental history and strong net income. Featuring two 2-bed/1-bath units and three 1-bed/1-bath units, each with separate electric meters, this property is ideal for investors seeking reliable cash flow. Recently updated units, upgraded electricial panals, shared coin-operated laundry, and four garage parking spaces. Located just minutes from O.I.T, Sky Lakes Medical Center, and downtown, this property offers excellent access to amenities and employment centers, ensuring steady demand for rentals.
Gross profit in 2024 was over $43K.
With solid cash flow, A cap rate of 6.5% and great potential for long-term appreciation, this property is a must-see for serious investors! A rare opportunity to own a profitable, low-maintenance multi-family investment! Unit 5: 1 bed, 1 bath, 750 sq.ft, rent is $760.
Location
State OR
County Klamath
Community Klamath Falls -Nichols Addition
Direction From downtown go north on 11th street. The property will be on the right (there is no sign).
Rooms
Basement Full, Unfinished
Interior
Interior Features Ceiling Fan(s), Laminate Counters, Linen Closet, Shower/Tub Combo
Fireplace Yes
Window Features Aluminum Frames,Vinyl Frames
Interior Features Ceiling Fan(s), Laminate Counters, Linen Closet, Shower/Tub Combo
Heating/Cooling Baseboard, Electric, Forced Air, Natural Gas
Exterior
Parking Features Attached, Detached, Garage Door Opener, On Street, Shared Driveway
Roof Type Composition,Rolled/Hot Mop
Parking Attached, Detached, Garage Door Opener, On Street, Shared Driveway
Building
Lot Description Level
Entry Level Two
Foundation Block, Concrete Perimeter, Slab
Water Public
Architectural Style Craftsman
Structure Type Frame
New Construction No
Construction Frame
Schools
High Schools Klamath Union High School
Others
Senior Community No
Tax ID 369808
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
