271 Clay St E
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271 Clay St E
6 Unit Block of Flats £782,448 (£130,408/Unit) 6.89% Net Initial Yield Monmouth, OR 97361
Investment Highlights
- Close to Western Oregon University
Executive Summary
Exciting investment opportunity! Updated 6-plex in the heart of Monmouth, less than a mile from WOU. Originally designed w/ 5 units, but its value has recently enhanced with addition of a 6th unit, completed in 3/2023. 5 units feature 2 beds/1 bath. 6th unit, with modern finishes offers 1 bed/1 bath. Professionally managed since 2022, this complex is maintained & overseen with great care. NEW ROOF!
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£67,416
|
£15.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£67,416
|
£15.27
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £67,416 |
| Annual Per SF | £15.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £67,416 |
| Annual Per SF | £15.27 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | £782,448 | Apartment Style | Low Rise |
| Price Per Unit | £130,408 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Net Initial Yield | 6.89% | Building Size | 4,416 SF |
| Gross Rent Multiplier | 13.08 | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.49/1,000 SF |
| Price | £782,448 |
| Price Per Unit | £130,408 |
| Sale Type | Investment |
| Net Initial Yield | 6.89% |
| Gross Rent Multiplier | 13.08 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,416 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.49/1,000 SF |
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 1 | £946.76 | 500 |
| 2+1 | 5 | £950.68 | 780 |
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PROPERTY TAXES
| Parcel Number | 190264 | Improvements Assessment | £212,169 (2024) |
| Land Assessment | £45,758 (2024) | Total Assessment | £257,927 (2024) |
PROPERTY TAXES
Parcel Number
190264
Land Assessment
£45,758 (2024)
Improvements Assessment
£212,169 (2024)
Total Assessment
£257,927 (2024)
zoning
| Zoning Code | High Density Residential (RH; Class, Multi Fam; Type 5+) |
| High Density Residential (RH; Class, Multi Fam; Type 5+) |
-
Dewey Whitton -
The Salem Real Estate Group
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271 Clay St E
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