1558 E 3RD ST Active Save Request In-Person Tour Request Virtual Tour
Newberg,OR 97132
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24507209
Year Built 1970
Annual Tax Amount $11,253
Tax Year 2023
Lot Size 0.690 Acres
Property Description
Assumable financing available for a qualified buyer! Fixed rate of 3.37% through May of 2026! Strong occupancy history with upside in rents based on most recent highest achieved of $2,025! A 6.01% cap rate on actuals and 7.94% on pro forma. The Garden Court Apartments were built in 1970 and are comprised of 12 three-bedroom one-and-a-half bath townhouse-style apartments. At 1,100 square feet, the spacious layouts consist of an open floorplan, modern kitchen amenities, washer dryer hook ups, and private fenced in patios. Three buildings, with wood-framed construction and pitched composition shingle roofs make up the complex. All units have vinyl windows and sliders. Ample parking with one covered parking spot and one uncovered parking spot per unit. All three buildings received new exterior paint, gutters and roofs in 2020.
Location
State OR
County Yamhill
Area _156
Zoning R-3
Rooms
Basement Crawl Space
Interior
Heating Zoned
Exterior
Roof Type Composition
Parking Type Carport, Open
Garage No
Building
Lot Description Level
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Middle Schools Mountain View
Others
Acceptable Financing Assumable,Cash,Conventional
Listing Terms Assumable,Cash,Conventional