$509,000

1928 Erie St Klamath Falls, OR 97601

Estimated payment $2,973/month

Total Views 21
-- Bed
-- Bath
3,858 Sq Ft
$132 Price per Sq Ft

Highlights

  • Traditional Architecture
  • No HOA
  • Front Porch
  • Corner Lot
  • Neighborhood Views
  • Double Pane Windows

About This Home

Excellent investment opportunity in the Hot Springs area of Klamath Falls! This charming six-plex has geothermal heat and features six well-maintained 1-bedroom, 1-bathroom units, each approximately 770 sq. ft. Recent updates give each unit a fresh and inviting feel, with strong rental history and professional property management already in place. Ideally located near Oregon Tech and Sky Lakes Medical Center, making it attractive to consistent tenant demand. Laundry facility on site. Separate power meters. The sale includes the adjacent lot to the south, providing additional parking for tenants. With a solid 7.2% cap rate and an unbeatable central location close to the college and hospital, this is a smart addition to any investment portfolio!

Listing Agent

Allison York

Windermere Real Estate Kf License #200409050 Listed on: 10/04/2025

Windermere Real Estate Kf

Co-Listing Agent

Tanner York

Windermere Real Estate Kf License #201242020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,173

Year Built

  • Built in 1929

Lot Details

  • 7,841 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot
  • Level Lot
  • Additional Parcels

Parking

  • On-Street Parking

Home Design

  • Traditional Architecture
  • Frame Construction
  • Membrane Roofing
  • Concrete Perimeter Foundation

Interior Spaces

  • Bathtub with Shower
  • 1-Story Property
  • Double Pane Windows
  • Vinyl Clad Windows
  • Neighborhood Views
  • Fire and Smoke Detector
  • Laminate Countertops

Flooring

  • Carpet
  • Vinyl

Outdoor Features

  • Front Porch

Schools

  • Roosevelt Elementary School
  • Ponderosa Middle School
  • Klamath Union High School

Utilities

  • No Cooling
  • Geothermal Heating and Cooling

Listing and Financial Details

  • Assessor Parcel Number 373642

Community Details

Overview

  • No Home Owners Association
  • 6 Units
  • Klamath Falls Hot Springs Addition Subdivision

Building Details

  • Professional Management Expense $8
  • Gross Income $63,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,173

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Architectural Style: Traditional
  • Directions: Located on Erie Street between Pacific Terrace and Eldorado Street
  • Unit Levels: One
  • Lot Size Acres: 0.18
  • Prop. Type: Residential Income
  • New Construction: No
  • Property Sub Type: Multi Family
  • Road Frontage Type: Shared Access
  • Road Surface Type: Paved
  • Subdivision Name: Klamath Falls -Hot Springs Addition
  • Year Built: 1929
  • Total Gross Income: 63600.0
  • Professional Management Expense: 8.0
  • Co List Office Mls Id: okWREKF
  • Co List Office Phone: 541-885-4400
  • Co List Office Phone: 541-885-4400
  • MLS Status: Active
  • General Property Information Elementary School: Roosevelt Elem
  • General Property Information Middle Or Junior School: Ponderosa Middle
  • General Property Information High School: Klamath Union High School
  • General Property Information:Zoning2: SF
  • General Property Information Audio Surveillance on Premises YN: No
  • Road Surface Type:Paved: Yes
  • View Neighborhood: Yes
  • Sewer:Public Sewer: Yes
  • Water Source:Public: Yes
  • General Property Information New Construction YN: No
  • Levels:One: Yes
  • Security Features:Smoke Detector(s): Yes
  • Architectural Style Traditional: Yes
  • Flooring:Vinyl: Yes
  • Utilities:Electricity Connected: Yes
  • Flooring:Carpet: Yes
  • Foundation Details Concrete Perimeter: Yes
  • Common Walls 2 Common Walls: Yes
  • Special Features: None

Interior Features

  • Flooring: Carpet, Vinyl
  • Interior Amenities: Laminate Counters, Shower/Tub Combo
  • Window Features: Double Pane Windows, Vinyl Frames
  • Interior Features:Laminate Counters: Yes
  • Interior Features ShowerTub Combo: Yes

Exterior Features

  • Common Walls: 2+ Common Walls
  • Construction Type: Frame
  • Foundation Details: Concrete Perimeter
  • Lot Features: Corner Lot, Level
  • Roof: Membrane
  • View: Neighborhood
  • Patio And Porch Features: Front Porch
  • Lot Features:Level: Yes
  • Window Features:Vinyl Frames: Yes
  • Construction Materials:Frame: Yes
  • Lot Features:Corner Lot: Yes
  • Window Features:Double Pane Windows: Yes
  • ConstructionSiding:Roof Membrane: Yes
  • Patio and Porch Features Front Porch: Yes

Garage/Parking

  • Parking Features: On Street
  • Attached Garage: No
  • Parking Features:On Street: Yes

Utilities

  • Cooling: None
  • Heating: Geothermal
  • Security: Smoke Detector(s)
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling Y N: No
  • HeatingYN: Yes
  • Heating:Geothermal: Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Elementary School: Roosevelt Elem
  • High School: Klamath Union High School
  • Middle Or Junior School: Ponderosa Middle

Lot Info

  • Additional Parcels Description: Adjacent lot to the south is included: Tax Lot:3809-028CD-07800
  • Additional Parcels: Yes
  • Lot Size Sq Ft: 7840.8
  • Parcel #: 373642
  • ResoLotSizeUnits: Acres
  • Zoning Description: SF

Multi Family

  • Number Of Units Total: 6

Tax Info

  • Tax Annual Amount: 3173.31
  • Tax Year: 2024

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/04/2025 10/04/25 For Sale $509,000 -- $132 / Sq Ft
Source: Oregon Datashare

Source: Oregon Datashare

MLS Number: 220210181

Oregon Datashare
Oregon Klamath County Klamath Falls 97601

1928 Erie St, Klamath Falls, OR

This home is located at 1928 Erie St, Klamath Falls, OR 97601 and is currently priced at $509,000, approximately $131 per square foot. This property was built in 1929. 1928 Erie St is a home located in Klamath County with nearby schools including Roosevelt Elementary School, Ponderosa Middle School, and Klamath Union High School.

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Allison York
Listing Agent
Allison York
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Windermere Real Estate Kf
(541) 331-0060