1236 N Riverside Avenue Unit 1 & 4, Medford, OR 97501

$475,000

Listing courtesy of Oregon Opportunities Real Estate.

Property Description

2 office condo units (1236 A & B and 1242 A & B) each consisting of two suites (A & B) of approximately 700 SF each, or approximately 1,400 each unit; total of 2800 SF combined units. Each suite has its own entry and individual restroom. 1236 A is leased for 3-year tern ending July 2022 and 1236 B is leased through October 2021. 1242 A & B are vacant and for lease, asking $1900/mo. for A & B combined or Suite A can be leased for $1,300/mo and lower level suite for $900/mo. All leases are Gross with Tenants paying only telecom, interior insurance and individual signage. Projected combined Net Operating Income (NOI) exceeds $33,000 for CAP rate of 7.0%. This is an excellent opportunity for an investor or owner / occupant of one of the units with investment income from the other unit. The 5-unit condominium is well-constructed and has been well-maintained over the years by the Unit Owners Association.

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