<\/p>\n
Income-Producing <\/span><\/p>\n The Marylhurst Apartment Complex is <\/span><\/p>\n <\/span><\/p>\n The property offers several <\/span><\/p>\n <\/span><\/p>\n The property does have deferred FINANCING: <\/b>Cash or bank financing available; potential owner carry <\/p>\n <\/p>\n PROPERTY HIGHLIGHTS:<\/strong><\/p>\n Income-Producing Multi-Unit Investment The Marylhurst Apartment Complex is a well-located multi-unit investment property in the heart of Burns, Oregon. Built in 1977, the complex includes 18 individual residential units spread across four buildings, supported by two laundry facilities, and situated on a combined 0.77-acre footprint. With over 10,800 square feet of living and utility space, each unit is equipped with essential features including electric …<\/p>\n","protected":false},"featured_media":500902,"comment_status":"closed","ping_status":"closed","template":"","property_category":[8687],"property_action_category":[8849],"property_city":[660],"property_area":[9115],"property_county_state":[36],"property_features":[],"property_status":[7428],"class_list":["post-500901","estate_property","type-estate_property","status-publish","has-post-thumbnail","hentry","property_category-united-states","property_action_category-residential","property_city-burns","property_area-harney","property_county_state-oregon","property_status-pending"],"yoast_head":"\n
\nMulti-Unit Investment<\/span><\/b><\/p>\n
\na well-located multi-unit investment property in the heart of Burns, Oregon.
\nBuilt in 1977, the complex includes 18 individual residential units spread
\nacross four buildings, supported by two laundry facilities, and situated on a
\ncombined 0.77-acre footprint. With over 10,800 square feet of living and
\nutility space, each unit is equipped with essential features including electric
\nbaseboard heating, vinyl storm windows, private kitchens and bathrooms, and
\ndedicated outdoor storage. The property is primarily rented by seniors or
\nindividuals who rely on Social Security income. Rent is calculated at 30% of
\neach tenant\u2019s income, with the remaining balance subsidized by Housing and
\nUrban Development (HUD). Each unit rents for $550 per month.<\/p>\n
\npositive features for continued use or potential value enhancement. The roofs
\nappear to be in good condition with newer gutters, and the buildings rest on
\nsolid concrete foundations. Most major utility services are city-provided or
\nindividually metered, offering cost-efficient operation. The property’s central
\nlocation, separate power meters, small pet allowance, and active property
\nmanagement are attractive to tenants. Mature landscaping, concrete sidewalks,
\nand large shared wood decks create a pleasant atmosphere for residents. Safety
\nconsiderations include mobility ramps, fire extinguishers, and exterior
\nlighting throughout the complex.<\/p>\n
\nmaintenance that should be considered when preparing an offer. The vinyl siding
\nshows some weathering, and the decks could use painting or staining. The
\nasphalt parking and sidewalks have areas of unevenness and breaks that may need
\nrepair for improved appearance and safety. The in-ground sprinkler system is
\nnon-functional, and lawn care watering is currently handled manually. Additional
\ntrimming of mature trees is also recommended. Despite these issues, the overall
\ncondition is serviceable, and with strategic updates, the Marylhurst Apartment
\nComplex offers strong potential as an income-producing asset in a
\nsupply-limited rental market.<\/p>\n
\noption\u00a0\u00a0\u00a0\u00a0
\nYEAR BUILT:<\/b> 1977
\nSQ. FT.:<\/b>
\nUnit 1-9 Building: \u00a0\u00a0\u00a0\u00a0\u00a0 3000 sqft (+\/-)
\nUnit 7-10 Building:\u00a0 \u00a0\u00a0 2460 sqft (+\/-)
\nUnit 11-14 Building:\u00a0\u00a0 2460 sqft (+\/-)
\nUnit 15-18 Building:\u00a0\u00a0 2400 sqft (+\/-)
\nLaundry 1 (Unit 1-9):\u00a0 \u00a0 240 sqft (+\/-)
\nLaundry 1 (Unit 11-18):\u00a0 240 sqft (+\/-)
\nTotal:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10,860 sqft (+\/-)\u00a0
\nLOT SIZE:<\/b>
\nTax Lot 6600\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 .35 ac (+\/-)
\nTax Lot 6900\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 .42 ac (+\/-)
\nTotal:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 .77 ac
\n(+\/-)
\nTAXES:<\/b>
\nTax Lot 6600\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $4,169.84
\n(2023-2024 tax year)
\nTax Lot 6900\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $5,162.64
\n(2023-2024 tax year)
\nTotal: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $9,332.48
\n(2023-2024 tax year)
\nINCOME:<\/b>
\nThe property is primarily rented by seniors or individuals who rely on Social
\nSecurity income. Rent is calculated at 30% of each tenant\u2019s income, with the
\nremaining balance subsidized by Housing and Urban Development (HUD).\u00a0 It is understood that this agreement between
\nthe property owner and HUD is in place until February 2027.
\nEach unit rents for $550 per month for a total of $9,900 in annual income
\nbefore expenses.
\nHEAT\/COOL:<\/b> Electric baseboard heat in all unit living room and bedroom
\nareas; no air conditioning\u00a0\u00a0\u00a0
\n\u00a0\u00a0\u00a0\u00a0
\nUNITS: <\/b>18 separate units \u2013 all units include:
\n– Living room \u2013 linoleum or carpet flooring, vinyl storm windows with curtains,
\nbaseboard, electric heat with thermostat, 110 outlets, cable TV access. The
\narea hosts a baseboard electric heater\u00a0
\n– Kitchen \u2013 linoleum flooring, wood cabinets with Formica countertops, 2-bay
\nmetal sink, electric stove and oven with vent, and refrigerator\u00a0 Hallway storage closet provides space for a
\nbutler’s pantry and also provides an access point to the crawl space\u00a0
\n– Bathroom \u2013 linoleum flooring, single sink vanity set on wood cabinet and
\nFormica countertops, mirror, toilet, and tub shower combination
\n– Bedroom \u2013 linoleum or carpet flooring, with closing doors, storage shelf, and
\nhanging rod, and vinyl windows with curtains. The room provides attic access
\nand hosts a baseboard electric heater\u00a0
\n– Lockable Storage – a lockable storage closet is located outside of each unit
\nLAUNDRY: <\/b>Two units on property for residence to use; lockable, concrete
\nfloor with drains, vinyl storm window, coin operated (funds collected by
\nproperty manager), two washer and dryer units per area, cadet wall heater,
\nfolding table, storage closet
\nPETS: <\/b>Small pets are allowed <\/b>
\nPARKING:<\/b> Off-street parking; asphalt parking areas (some
\npatches\/breaks\/uneven)\u00a0
\nSIDING: <\/b>Vinyl siding (some cracks\/breaks\/weathering)\u00a0
\nFOUNDATION:<\/b> Concrete\u00a0\u00a0
\nROOF:<\/b> Composite shingles with gutters and downspouts (gutters new 2
\nyears ago; two layers of shingles; roof shingles appear to be in good
\ncondition)\u00a0
\nWATER\/SEWER:<\/b> City of Burns
\nPOWER: <\/b>Oregon Trail Electric Cooperative; each unit has its own separate
\npower meter
\nGARBAGE<\/b><\/a>:<\/b> C&B Sanitary; two areas on the property are
\nestablished and designated for residence.\u00a0
\nThese areas are not lockable\u00a0
\nMAIL SERVICE:\u00a0<\/b>Separate
\nmailboxes are set up for unit residents.\u00a0
\nThese boxes are located along the city street and are not lockable\u00a0
\nSAFETY:
\n– <\/b>11 fire extinguishers located around the property
\n– Mobility access ramps with handrails
\n– Area lights
\nOUTSIDE AREAS:\u00a0 <\/b>
\n– Pleasant grass areas (in-ground sprinkler system not working; property owner
\nutilizes local company for mowing, and property manager waters lawns with a
\ngarden hose)
\n– Large legacy trees (some trimming work needed)
\n– Concrete sidewalks (some patches\/breaks\/uneven)
\n– Large wood decks and walkways (showing weathering; needing to have
\npaint\/stain work done)<\/span><\/p>\n\n\n
\n <\/i>Eastern Oregon Investment<\/td>\n <\/i>18 – 1 bed\/1bath units<\/td>\n <\/i>Investment & Income<\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n <\/i>Apartments for Sale in Burns<\/td>\n <\/i>2 Laundry Units<\/td>\n <\/i>Retirement & Active Adult<\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n <\/i>Rental Units in Harney County<\/td>\n <\/i>Four Buildings<\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"