589 10Th AveCoos Bay, OR 97420

Property Details for 589 10Th Ave

Year built

1972

Lot size

0.18 AC

Property size (Sq ft)

2,978 SF

Property type

Small apartment buildings

Description

This stabilized triplex in Coos Bay, Oregon, presents a compelling investment opportunity. Located at 589 10th Ave, this 2-story, 1972-built property features three units totaling 2,978 square feet on a 0.18-acre lot. The property boasts a 7.29% cap rate and a strong net operating income (NOI) of $33,450, with 100% occupancy. The units are well-maintained, offering a mix of sizes and layouts to maximize rental income. Two main floor units each measure 744 square feet, each with two bedrooms and one bathroom. A larger downstairs unit provides 745 square feet, three bedrooms, and two bathrooms. An attached 745-square-foot garage and an owner's storage unit add further value. A brand new roof was installed in June 2024. The property is zoned R-3 and features a desirable location in the Eastside neighborhood. The asking price is $459,000, translating to $154.13 per square foot. This property is ideal for investors seeking a stable, high-return investment in a thriving community. The property's strong cash flow, combined with its recent roof replacement, minimizes immediate maintenance concerns. This is a turnkey investment ready for immediate income generation. The property's location in the Eastside neighborhood offers convenient access to local amenities and public transportation. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. The property's APN is 4073100. This offering is suitable for a 1031 exchange.

Location Insight

City

Coos Bay

County

Coos

State

Oregon

Latitude

43.3623

Longitude

-124.189

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