214 Sw M St is a $469,000, 2,263 square foot, 7 bedroom, 5.0 bath home located in Madras, OR.
Seller to contribute $15k towards rate buydown! Fully occupied 5 plex in the heart of Madras with 6.5% cap rate. Rents total $3,725/mo! Unit mix is Two units w/ 2beds,1bath, and three studios. Property has just undergone a full rewire, allowing future landlord to start to have tenant pay for there own electricity adding to the NOI and boosting value of property. Other upgrades include a fresh exterior paint job, re-graveling of parking areas and various units have been upgraded at turnover. This property is fully rented and managed by an incredible local management company that keeps it occupied all the time. Madras continues to be a growing market as higher rents in the Bend and Redmond market drive people to live in more affordable areas. Don't miss this opportunity to own this great cash flowing turnkey investment property. Showings will be allowed with accepted offer. Listing agent is also part owner. No sign on property, please do not disturb tenants. Property could be converted to a 4plex for easier financing. Call LA for details!
Hot Water Description - Electricity
|# Parking Spaces||8|
|Brokerage Name||Iron Gate Realty Group|
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Angell Realty are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2023 RMLS™, Portland, Oregon. This content last updated on 12/02/2023 at 06:44pm MST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.