329 S Grape StreetMedford, OR 97501
Rare multi-unit property offering flexibility, strong income, and modern updates. Situated on two tax lots zoned Commercial Service Provider, this property features five renovated units-ideal for continued long-term rentals, short-term lodging, or mixed-use possibilities. The first lot includes a 1,200-sq-ft, 3-bedroom, 1-bath home, while the 2nd. lot hosts four additional units: three studio apartments and one 1-bedroom apartment. Each unit has been completely refreshed with new HVAC systems, flooring, paint, cabinets and more, ensuring comfort and efficiency for tenants or guests. A shared laundry facility, alley access, and ample on-street parking add convenience and appeal. Currently fully rented and professionally managed, the property generates $6,495 per month in gross income, with the seller reporting a 7.5% cap rate. If you're seeking a turnkey investment or exploring short-term rental potential, this property delivers exceptional versatility and value. Upgrade list attached.
- Property Type:
Residential Income
- Architectural Style:
Other
- Bedrooms:
- Bathrooms:
0
- Dwelling Size:
0 SqFt
- Lot Size:
0.22 Acres
- Lot Description:
- Stories:
- Year Built:
0
- Interior Features:
- Exterior Features:
Courtyard
- Parking:
Garage or Parking Spaces:
Features: Alley Access, Asphalt
- Area:
- Views:
Territorial
- Schools:
High School(s): South Medford High
Middle School(s): Oakdale Middle
Elementary School(s): Jefferson Elem
- HOA:
- Senior Community:
- Heating:
Heat Pump
- Cooling:
Ductless,Heat Pump
- Appliances:
Dryer, Oven, Range, Refrigerator, Washer, Water Heater
- Fireplace:
Fireplace(s):
Features:
- Accessibility:
- Security Features:
Carbon Monoxide Detector(s), Smoke Detector(s)
- Foundation:
Concrete Perimeter,Slab
- Roof:
Composition