Central Oregon Homes, Land & Acreage for Sale

3306 South Pacific Highway, Medford, OR 97501

$8,360,000

Property Type: Residential Income Square Footage: 64,250 Lot Size (sq. ft.): 354,143 Status: Closed

Current Price: $8,360,000 List Date: 6/25/2021 Last Modified: 5/27/2026

Overview

Description

A very well maintained 89 unit complex. 56- 1 bedroom 1 bath flats, 16- 2 bedroom 1 bath flats, 12- 1 bedroom 1.5 bath lofts, 3- 2 bedroom, 1.5 bath townhouses, 1 bedroom shower studio, 1- 2 bedroom 1 bath/ den. Original design included units facing a common yard area. There is an office, rec room and pool. Total parking 145 spaces, 36 assigned double car garages, 18 assigned double carports, 18 assigned individual carports, 18 open parking spaces and 1 handicap. Based on a recent survey, total rents are at least 10% under market due to the regulations surrounding Covid. the average length of tenant occupancy for the entire project is 7 years.

Listing Details MLS# 220125786

General Property Information

Property Sub Type: Multi Family
Building Area Total: 64250
Building Area Source: Assessor
Building Area Units: Square Feet
# of Units Total: 89
Year Built: 1964
Short Term Rental Permit YN: Yes
New Construction YN: No
Elementary School: Orchard Hill Elem
Middle Or Junior School: Talent Middle
High School: Phoenix High
Zoning: UR-30
Tax Annual Amount: 66198
Tax Year: 2020
Potential Tax Liability YN: No
Assessment YN: No
CC&R's YN: No
Association YN: No
Preferred Escrow Company & Officer: Ticor Title - Kim Ayres
FIRPTA YN: No
Sign On Property YN: No

Property Features

Appliances: Dishwasher; Disposal; Oven; Range; Refrigerator; Water Heater Architectural Style: Traditional Basement: None Common Walls: 2+ Common Walls Construction Materials: Frame Cooling: Wall/Window Unit(s) Flooring: Carpet; Laminate; Simulated Wood Foundation Details: Concrete Perimeter; Slab Heating: Ductless; Heat Pump; Radiant Interior Features: Ceiling Fan(s); Laminate Counters; Stone Counters Levels: One; Two Roof: Composition Security Features: Carbon Monoxide Detector(s); Smoke Detector(s) Unit 1 Rent Includes: Garbage; Landscaping; Sewer; Water Window Features: Double Pane Windows; Vinyl Frames Additional Features: Laundry Facility; Manager's Quarters; Separate Electric Meters Easements: Access Exterior Features: Courtyard Utilities: Electricity Connected Flood: N/A Lot Features: Garden; Landscaped; Level Parking Features: Asphalt; Assigned; Attached; Attached Carport; Detached Carport; Parking Lot; Storage Pool Features: Outdoor Pool Road Frontage Type: Private Access Road Surface Type: Paved Sewer: Public Sewer Water Source: Public Documents on File: Profit and Loss Statement; Rental Agreement; Schedule E; Schedule of Tenants Listing Terms: Cash; Conventional Special Listing Conditions: Standard

Location Tax and Legal

Street Number: 3306
Street Name: South Pacific Highway
County: Jackson
State: OR
Postal Code: 97501
Subdivision Name: N/A

Contract Information

Original List Price: 6717000
List Price per SqFt: 104.54
Listing Contract Date: 2021-06-25

Remarks and Miscellaneous

Public Remarks: A very well maintained 89 unit complex. 56- 1 bedroom 1 bath flats, 16- 2 bedroom 1 bath flats, 12- 1 bedroom 1.5 bath lofts, 3- 2 bedroom, 1.5 bath townhouses, 1 bedroom shower studio, 1- 2 bedroom 1 bath/ den. Original design included units facing a common yard area. There is an office, rec room and pool. Total parking 145 spaces, 36 assigned double car garages, 18 assigned double carports, 18 assigned individual carports, 18 open parking spaces and 1 handicap. Based on a recent survey, total rents are at least 10% under market due to the regulations surrounding Covid. the average length of tenant occupancy for the entire project is 7 years.