Bought with Eagle Cap Realty, Inc
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Key Details
Sold Price $980,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,308 sqft
Price per Sqft $134
MLS Listing ID 23560291
Sold Date 02/27/24
Year Built 1890
Annual Tax Amount $7,796
Tax Year 2023
Property Description
Welcome to 2109 3rd Street, the Bell Station Apartments, in ruggedly beautiful La Grande, Oregon. A rare public offering of a ten-unit apartment complex, Bell Station presents an extraordinary opportunity to step into an established complex with strong in-place income and proven upside.Bell Station itself consists of ten units across two buildings on one parcel. While featuring plenty of historic charm, the complex has had extensive, top-to-bottom renovations, with both cosmetic and system upgrades throughout. There is proven rent upside across multiple units, as well as the possibility of unlocking significant value by billing back utilities via RUBS or a similar program.The complex is strategically located just blocks from downtown La Grande, grocery, retail, and employment. Anchored by Eastern Oregon University, La Grande and the Grande Ronde Valley as a whole is a dynamic market, known for its arts scene, recreational opportunities, and natural beauty of the high desert.The Bell Station Apartments combines historic charm, a prime location, and strong upside, making it a compelling investment opportunity in the active La Grande community.
Location
State OR
County Union
Community Laundry
Area _440
Zoning LG-GC
Interior
Heating Forced Air
Exterior
Community Features Laundry
View City
Roof Type Composition
Parking Type Paved
Garage No
Building
Lot Description Level
Story 2
Foundation Block
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Middle Schools Stella Mayfield
High Schools La Grande
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Cassandra Marks
Realtor, Licensed in OR & WA | License ID: 201225764
Realtor, Licensed in OR & WA License ID: 201225764