OR > Mc Minnville
Mc Minnville, OR 97128,250 SE LINCOLN ST
Mc Minnville, OR 97128,250 SE LINCOLN ST
Mc Minnville, OR 97128,250 SE LINCOLN ST
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Cassandra Marks

Cassandra Marks

+1(503) 884-2387
Listed by Vintage Realty Northwest
$644,000
Est. payment /mo
2,884 SqFt
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UPDATED:

10/16/2024 12:30 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,884 sqft

Price per Sqft $223

MLS Listing ID 24696946

Year Built 1903

Annual Tax Amount $3,035

Tax Year 2023

Lot Size 6,969 Sqft

Property Description

Welcome to 250 SE Lincoln Street, a unique apartment complex in beautiful McMinnville, Oregon. A rare public offering of a five-unit apartment building, Lincoln Street Apartments presents an extraordinary opportunity to step into an established complex with strong in-place income (7.3% Cap Rate on current numbers) and proven upside. The property itself consists of five units, spread through one building, originally a primary home built in the early 1900's. While retaining much of its original character, the property has been extensively remodeled and updated throughout the years. Four units have recently been renovated and leased to market, with the remaining unit ripe for a cosmetic renovation and rents to be reset to market rates. The electrical service (including a new main panel and sub-panels) and water heaters (four new electric models) were recently installed. Each unit is billed separately for electric service. Owner pays sewer and water. The property is within just a few blocks from iconic 3rd St. and Linfield University, and is fairly close to schools and parks. Easy drive to McMinnville High School, grocery, retail, employment, and Highways 99 & 18. Square footage of each unit is approximate; buyer to verify. Shown with accepted offer only, please.

Location

State OR

County Yamhill

Area _156

Zoning R-4

Rooms

Basement Exterior Entry, Partial Basement, Unfinished

Interior

Heating Wall Heater

Exterior

Roof Type Composition

Parking Type Driveway, On Street

Garage No

Building

Lot Description Corner Lot, Level

Story 2

Foundation Block, Other, Pillar Post Pier

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Buel

Middle Schools Duniway

High Schools Mcminnville

Others

Acceptable Financing Cash, Conventional

Listing Terms 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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250 SE LINCOLN ST