2981 State Street, Medford, OR 97504
$6,450,000
Property Type:
Residential Income
Lot Size (sq. ft.):
209,088
Status:
Closed
Current Price:
$6,450,000
List Date:
7/19/2017
Last Modified:
5/27/2026
Overview
Description
Listing Details MLS# 102979626
General Property Information
- Property Sub Type
- Multi Family
- # of Units Total
- 101
- Year Built
- 1972
- Zoning
- MFR-30
- Tax Annual Amount
- 84922.5
- Tax Year
- 2016
- CC&R's YN
- No
- Sign On Property YN
- No
Property Features
Construction Materials:
Concrete; Frame
Cooling:
Heat Pump; Wall/Window Unit(s)
Foundation Details:
Slab
Heating:
Baseboard; Electric; Forced Air
Roof:
Composition
Additional Features:
Laundry Facility; Manager's Quarters; Separate Electric Meters
Flood:
N/A
Association Amenities:
Pool
Sewer:
Public Sewer
Water Source:
Public
Documents on File:
APOD; Lead Based Paint Report; Profit and Loss Statement; Schedule of Tenants; Seller Disclaimer
Listing Terms:
Cash; Conventional
Special Listing Conditions:
Standard
Location Tax and Legal
- Street Number
- 2981
- Street Name
- State
- Street Suffix
- Street
- County
- Jackson
- State
- OR
- Postal Code
- 97504
Contract Information
- Original List Price
- 6000000
- Listing Contract Date
- 2017-07-19
Remarks and Miscellaneous
- Public Remarks
- A peaceful countryside atmosphere with natural and designed landscaping. Close to transportation, shopping and medical services. There are 101 rental units in 19 buildings. There are 410 businesses and 8532 employees within 5 minutes drive time of the complex. 77.8 percent of those employees are in health services. The property has been upgraded with Hardi Plank siding and double pane windows, and Southern Oregon Rental Association vacancy in the market is 1.7 percent. Renting at approximately $.80 per square foot per month. these are very competitive units for the market place. Private enclosed patios, swimming pool, open parking with 171 spaces. A mix of units from 592 to 1309 square feet. All units have patios, decks or balconies, private outside entrance, carpet & vinyl or laminate flooring.
- Directions
- Barnett, right to Murphy and right to State to the address.
Status Change Information
- Close Date
- 2017-09-19
- Under Contract Date
- 2017-07-26
- Status Change Timestamp
- 2017-09-20
- Close Price
- 6450000
More Information
Income and Expenses (Annual Amounts)
- Gross Income
- 860809
- Operating Expense
- 445079
- Net Operating Income
- 415664
Listing Office:
Oregon Opportunities Real Estate
Last Updated: May - 27 - 2026
Broker Attribution:
info@OROP.COM
Information deemed reliable but not guaranteed.