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Listed by Constant Commercial Real Estate Inc • 503-222-0282
Bought with RE/MAX Equity Group
Bought with RE/MAX Equity Group
$ 1,000,000
$ 975,000 2.6%
Est. payment | /mo
6,500 SqFt
$ 1,000,000
$ 975,000 2.6%
Est. payment | /mo
6,500 SqFt
Key Details
Sold Price $1,000,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,500 sqft
Price per Sqft $153
MLS Listing ID 340491813
Sold Date 06/17/26
Year Built 1977
Annual Tax Amount $9,133
Tax Year 2025
Lot Size 0.320 Acres
Property Description
Well-maintained 7-unit apartment community blocks from downtown Molalla situated on a clean, manicured .32 acre lot. The current ownership has executed a methodical renovation program: four of six two-bedroom units and the three bedroom unit have been updated with new cabinetry, appliances, LVP flooring, updated light fixtures, and fresh paint throughout. Units are being converted to include in-unit laundry on each turnover, with 5/7 already complete. The two-story 2 bedroom floor plans are spacious with carpeted living areas, bedroom-level separation, and sliding glass doors opening to private concrete back patios on each unit. This is an excellent operational value-add play by implementing utility bill-backs (RUBS) and getting rents to market. A short path to filling the remaining vacancy proposes a rent roll of $9,685/mo.
Location
State OR
County Clackamas
Area _146
Zoning R3
Interior
Heating Wall Heater
Exterior
Garage No
Building
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Molalla
Middle Schools Molalla River
High Schools Molalla
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
