La Grande, OR 97850,2116 ADAMS AVE
La Grande, OR 97850,2116 ADAMS AVE
La Grande, OR 97850,2116 ADAMS AVE
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Listed by Stellar Realty Northwest
$975,000
Est. payment /mo
3,744 SqFt
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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

+1(503) 884-2387

Realtor, Licensed in OR & WA | License ID: 201225764

Realtor, Licensed in OR & WA License ID: 201225764

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2116 ADAMS AVE