1143 Richland LnPrineville, OR 97754

Property Details for 1143 Richland Ln

Year built

1987

Lot size

0.41 AC

Property size (Sq ft)

1,627 SF

Property type

Mixed-use properties

Property subtype

Other mixed-use properties

Description

This exceptional mixed-use investment property in Prineville, Oregon, presents a compelling opportunity for astute investors. Located at 1143 NW Richland Ln, 97754, this stabilized investment boasts a strong 8.91% cap rate and a substantial net operating income (NOI) of $37,332. The property comprises two buildings on a 0.41-acre lot, totaling 3,500 square feet of net rentable space. The main structure, built in 1987, offers 1,627 square feet of living space, featuring an open floor plan, five extra-large bedrooms with ample closet space, and accessibility features including wheelchair access, a walk-in tub, and a walk-in shower. Additional amenities include a spacious sunroom, a two-car garage, an extra-large carport, a sizable storage building, RV hookups with a dump site, and an in-ground sprinkler system. Recent upgrades include new roofs on both buildings. The property is currently generating $2,700 in monthly rental income from the home and an additional $800 from the RV space and garage, resulting in 100% occupancy. The C2 zoning allows for a variety of commercial and residential uses, making this a versatile and highly profitable investment. The property's location along Ochoco Creek provides a private and desirable setting. The asking price is $419,000, representing a price per square foot of $257.53. This property is a turnkey investment ready to generate immediate income.

Location Insight

City

Prineville

County

Crook

State

Oregon

Latitude

44.3069

Longitude

-120.86

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].