250 SE Lincoln St, McMinnville, Oregon, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$649,000

250 SE Lincoln St
McMinnville, Oregon, United States

4bd 5ba

Listed By: Realtyww Info

Listed On: 08/02/2024

Listing ID: GL11740641 View More Details

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 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 and 18. Square footage of each unit is approximate; buyer to verify. Shown with accepted offer only, please.

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Listed by: Kenneth Marshall