$975,000
2116 ADAMS AVE La Grande, OR 97850
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Listed by Stellar Realty Northwest
$975,000
Est. payment /mo
3,744 SqFt
UPDATED:
08/05/2024 12:00 PM
Key Details
Property Type Commercial
Sub Type Hotel Motel
Listing Status Active
Purchase Type For Sale
Square Footage 3,744 sqft
Price per Sqft $260
MLS Listing ID 24567311
Year Built 1950
Annual Tax Amount $4,291
Tax Year 2023
Lot Size 0.290 Acres
Property Description
Exceptional investment opportunity in La Grande, Oregon! This property presents a opportunity of quality living quarters with rental units and an annual NOI of $61,176 and a current CAP rate of 5.56. Located in the heart of downtown La Grande on Highway 30, this property features a 9-unit motel along with a comfortable sized residential home to be used as owner occupancy or on-site manager. The main residence has 2 large bedrooms, 1 bath, laundry, 2 kitchens, a dining area, a living room, and an office. Each of the 9 motel units ranges from 200 to 400 square feet in size. Five of these units are equipped with kitchens, allowing guests have the option of preparing meals in the comfort of their own space. All units are furnished with 55" TVs. On-site amenities include a patio, laundry facility, ice machine, parking, and convenient storage. Currently, 7 out of the 9 units are generating a monthly income of $6,265, with the remaining 2 units undergoing renovation. This outstanding income stream provides a foundation for your investment with excellent returns. Situated right across the street from Safeway and a short distance to popular restaurants, shopping, parks, Eastern Oregon University, and Grande Ronde Medical Center. This central location ensures opportunity for 0 vacancies , making this investment an even more attractive proposition. **"Buyer to do their own due diligence on hotel + house total sq ft."
Location
State OR
County Union
Area _440
Zoning LG-GC
Interior
Heating Other
Cooling Wall Unit
Equipment Furniture, SmokeDetector
Exterior
View Mountain, Territorial
Roof Type Composition
Parking Type Assigned
Garage No
Building
Story 1
Sewer Public Sewer
Water Public Water
Level or Stories 1
Others
Acceptable Financing CallListingAgent, Cash, Conventional
Listing Terms CallListingAgent, Cash, Conventional
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Cassandra Marks
Realtor, Licensed in OR & WA | License ID: 201225764
Realtor, Licensed in OR & WA License ID: 201225764