29
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$950,000
Est. payment /mo
12,742 SqFt
Active
917 Main ST Klamath Falls, OR 97601
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 12,742 sqft
Price per Sqft $74
MLS Listing ID 220200192
Annual Tax Amount $7,649
Lot Size 0.400 Acres
Acres 0.4
Lot Dimensions 0.4
Property Description
Investment opportunity with strong income potential! This is a rare chance to acquire a versatile mixed-use property with significant room for increased returns. Situated on a 17,424 square foot lot, the building offers 12,742 square feet of commercial and residential space, currently configured with four ground-level commercial units and eight residential apartments on the second floor. Ample on-site parking. Currently, seven residential units and one commercial space are leased, generating $126,408 in annual income. With minimal effort to lease the remaining vacancies, this figure could rise substantially. The property is operating at a 4.35% cap rate, with a pro forma projection of 8.96% at full occupancy. While some clean-up and cosmetic updates are needed in the commercial units, there's also potential for a full residential conversion - offering an even higher return (buyers to perform their own due diligence). Financial reports available upon request.
Location
State OR
County Klamath
Interior
Heating/Cooling Ductless
Exterior
Parking Features Asphalt, On Street, Parking Lot
Roof Type Membrane
Parking Asphalt, On Street, Parking Lot
Building
Lot Description Corner Lot, Level
Entry Level Two
Foundation Slab
Water Public
Structure Type Brick,Frame
New Construction No
Construction Brick, Frame
Others
Senior Community No
Tax ID 612938
Security Features Carbon Monoxide Detector(s)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Third Party Approval
Listed by Windermere Van Vleet & Assoc2