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2116 Adams AvenueLa Grande, OR 97850Price: $1,000,000

  • Price: $1,000,000
  • 124 Days on Market
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Federal 30-year interest rate: 6.94% last updated on Feb 29, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $1,000,000List Price
  • 0.29Acreage
  • 3,744Square Feet
Listed by Nick Shivers and Brian Duhrkoop of Keller Williams PDX Central
Pending

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Exceptional investment opportunity in the vibrant center of La Grande, Oregon! This property presents an ideal fusion of comfortable living and a lucrative hospitality venture with an annual NOI of $61,176 and a current CAP rate of 5.56. Located in the heart of downtown La Grande on Highway 30, this property boasts a 9-unit motel along with a generously sized residential home. The main residence has 2 large bedrooms, 1 bath, laundry, 2 kitchens, a dining area, a living room, and an office so you can comfortably live on-site while managing the motel property. Each of the 9 motel units ranges from 200 to 400 square feet in size. Five of these units are equipped with kitchens, ensuring guests have the option of preparing meals in the comfort of their own space. Additionally, all units are furnished with 55" TVs. On-site amenities include a patio, laundry facility, ice machine, parking, and convenient storage. Currently, 7 out of the 9 units are generating a monthly income of $6,265, with the remaining 2 units undergoing renovation. This outstanding income stream provides a foundation for your investment with excellent returns. Situated right across the street from Safeway and within walking distance to popular restaurants, shopping, parks, Eastern Oregon University, and Grande Ronde Medical Center, guests will enjoy the convenience and attractions offered by the area. This strategic location ensures a steady flow of guests, making this investment an even more attractive proposition. **"Buyer to do their own due diligence on hotel + house total sq ft."

Property Details of 2116 Adams Avenue

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Community, Market, Schools, Walkability statistics and info below provided by third party Faraday:

La Grande, OR Demographics

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La Grande, OR Real Estate Market Data

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La Grande, OR Schools

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Based on information submitted to OR_RMLS_WEB_API as of March 3, 2024 3:42 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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