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Listed by CONRAD VENTI • FIRST COMMERCIAL REAL ESTATE • Cell: 503-559-2694
$2,295,000
Est. payment /mo
11,527 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi- (5+)
Listing Status Active
Purchase Type For Sale
Square Footage 11,527 sqft
Price per Sqft $199
MLS Listing ID 840268
Year Built 2004
Lot Size 0.450 Acres
Acres 0.45
Property Sub-Type Multi- (5+)
Property Description
The property at 422-438 Warren St S is a 9-unit student housing portfoliolocated in Monmouth, Oregon. Built in 2004, the asset consists of twofour-plex buildings (eight 3-bedroom, 3-bathroom units at 1,295 SF each)and one detached single-family home (2BR/3BA with garage, 1,075 SF),totaling 11,527 SF on 0.45 acres. The 3-bedroom, 3-bathroom configuration is a high-value rarity in the Monmouth/Independence market, commanding a 10–15% premium over standard 2-bathroom units due to their appeal to university roommate groups. The asset is in excellent condition and represents a significant upgrade over the aging market-base inventory in the submarket. 2025 Actual NOI: $90,883 | Proforma NOI: $125,029 | Gross Income: $155,400.
Location
State OR
County Polk
Area 95 Polk County
Exterior
Roof Type Composition
Building
Sewer City
Water City
New Construction No
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