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171 N 15th Ave, Elgin, OR 97827

$499,000
  • bed

  • bath

  • 3,756

    Sqft ($133/Sqft)

Multi-family pending

About 171 N 15th Ave

Property type Multi-family
Neighborhood
Year built 1979
HOA fee $0/month
Lot size 0.27 Acre
Property description
Investors looking for an opportunity to own apartment rentals look no further! This well-kept 4-plex built amongst the pine trees is ready for the motivated investor who has residual income as a future priority! As a residential gem in the city of Elgin, you don't want to miss this rare opportunity which was built with pride in 1979 and owned by only the original owner! Located near schools and close to shopping makes this a place that tenants enjoy calling home as turnover and vacancies are nearly nonexistent! Offering 4 total spacious units with 2-bedroom 1-bathroom. All units include range/oven, refrigerator, dishwasher and a garbage disposal! The convenient on-site laundry room has 2 washers and 2 dryers for all tenants to utilize as needed. The grounds give the feeling of a park like atmosphere as landscaping is always well maintained. Each upstairs unit provides a Trex deck out the dining room sliding glass door to enjoy the evening views while relaxing, and the downstairs units offer a patio and a small yard! The building has a newer roof, double pane vinyl windows, Hardy siding, and exterior paint. Make an appointment to see this great opportunity today! This 4-plex may be purchased together with the adjacent 4-plex located at 173 N 15th Ave Elgin. Please see listing 450112253. Listing agent is related to the seller. Financials are available.
Listed by
Listing Agent - Roger Hutson
Listing Office - Valley Realty
Source: RMLS mls logo
MLS#393968675 • last updated 1 month ago
Movoto checked RMLS for data 5 minutes ago
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Overview
Cooling/AC None
Heating Baseboard
MLS # 393968675
Type Multi Family
Status Pending
Lot Size (SqFt) 11761
Lot Size (Acres) 0.27
Property Tax 3284.78
Year Built 1979
Exterior
Roof Composition
Exterior Features CementSiding, LapSiding
Lot Desc Level, PublicRoad, Seasonal, Trees
Amenities / Utilities
Hot Water Electricity
Sewer/ Septic Public Sewer
Water Source Public Water
Location
View Mountain, Seasonal, TreesWoods
County Union
Community Features AllLandscaping, Laundry
Area 440 - Union County
Elementary School Stella Mayfield
Middle School Elgin
High School Elgin
Zoning EL-R
Directions N 15th & Baltimore St.
APN 12880
Multifamily Details
Unit Type 1: # Bedrooms 2
Unit Type 1 : Total Baths 1
Unit Type 1: Rent 739
Total # of Units 4
Gross Rent Multiplier 14.07
Operating Expense Scheduled 15000
Net Operating Income 23870
Operating Expense 11602
Gross Scheduled Income 57600
Gross Income 35472
Cap Rate 4.78
Net Scheduled Income 42600
Lot/ Land Details
Road Surface Paved
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5/10
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Source: GreatSchools.org © 2026. All rights reserved.

Around 440 - Union County

Explore everything this neighborhood has to offer.
32/100
Walk
68/100
Family
3/100
Dining
58/100
Pet
  • Real Estate
  • OR
  • Union County
  • Elgin
  • 97827
  • 171 N 15th Ave

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