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28 photos
Additional details
Listed by Premiere Property Group, LLC
$3,500,000
Est. payment /mo
0.46 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 594412183
Year Built 2025
Annual Tax Amount $520
Tax Year 2024
Lot Size 0.460 Acres
Property Description
This is more than just an opportunity; this is an asset that'll keep paying out for years to come. Be an investor with these brand spanking new 8 apartments and 4-8 retail/business offices in downtown Gervais. Luxury Apartments are 1,000 sqft 9' ceilings and feature beautiful kitchens, LVP flooring, quartz countertops, stainless steel appliances, 2 bedroom, 2 baths with air-conditioning, washer/dryer hookup, balcony, and storage. The ground-level 4 unit retail/offices can be split from 2,000 sq-ft to 1,000 or even smaller to rent out, could be a hair salon, nails, chiropractic office, or accountant office, bring your dream and your ideas. The parking lot is also big enough to rent out to culinary food trailers/trucks. There is also an area on the south side of the parking lot that is approved for an 800sqft commercial building thats already plumbed for water and sewer.This is a "Gold Mine" of opportunity. Minutes from I-5, between Portland and Salem. Gervais is such a great community and has grown substantially in the last few years, having its own schools, Elementary up through High School. Seller is also willing to carry a contract on this for 20 years with a sizable down payment. The projected yearly gross income is over 300k. The estimated time of completion is July. Super easy access to I-5 in Woodburn, which is smack-dab in the middle between Portland and Salem. Don't let this phenomenal opportunity pass you by. I would do this if my wonderful wife would let me!
Location
State OR
County Marion
Community Alllandscaping
Area _170
Zoning COM
Rooms
Basement None
Interior
Heating Wall Heater
Cooling Wall Unit
Exterior
Community Features AllLandscaping
View City, Seasonal
Roof Type Composition
Garage No
Building
Lot Description Corner Lot, Level
Story 3
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 3
Schools
Elementary Schools Gervais
Middle Schools Gervais
High Schools Gervais
Others
Acceptable Financing CallListingAgent, Cash, Contract, Conventional, FHA, OwnerWillCarry
Listing Terms CallListingAgent, Cash, Contract, Conventional, FHA, OwnerWillCarry
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