NOT LISTED FOR SALE

2220 Crater Lake Ave Medford, OR 97504

-- Bed
-- Bath
10,172 Sq Ft
0.36 Acres

Last Sold July 24, 2024

Last sale price $1,620,000 $159 Per Sq Ft

26 Days on Market

Highlights

  • Craftsman Architecture
  • No HOA
  • Double Vanity
  • Territorial View
  • Double Pane Windows
  • Walk-In Closet

About This Home

As of July 2024

Welcome to East Medford's prime residential investment! Two contemporary 4-plexes, 2017-built, boast 8 townhouse-style units. Fully occupied, well maintained, ideal for savvy investors. Each building features two 3-bed, 2.5-bath & two 2-bed, 2-bath units with a modern design and well appointed interiors, catering to diverse tenant needs. All units are equipped with appliances including ranges, dishwashers, refrigerators and washers and dryers. Ideal location provides easy access to amenities, making it highly desirable to tenants. Fully occupied with below market rents, offering income appreciation potential. Newer construction offers exempt status from state rent control, allowing rental rate adjustments to reflect market trends. Current Cap at a respectable 5.4%, poised to reach 6.7% with market-aligned rents. Buyers advised to verify rental regulations. Possible lot split separating the Two 4 plexes for future financing advantages. Buyer to check with the city on possibilities.

Last Agent to Sell the Property

Jake Rockwell

eXp Realty, LLC License #201207277 Listed on: 06/05/2024

eXp Realty, LLC

Co-Listed By

Rockwell Group

eXp Realty, LLC License #201207277

Last Buyer's Agent

Ada Sanchez

RE/MAX Platinum License #201203342

RE/MAX Platinum

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,085

Year Built

  • Built in 2017

Lot Details

  • 0.36 Acre Lot
  • Two or More Common Walls
  • Level Lot
  • Front and Back Yard Sprinklers

Parking

  • Parking Lot

Home Design

  • Craftsman Architecture
  • Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1-Story Property
  • Ceiling Fan
  • Double Pane Windows
  • Territorial Views

Kitchen

  • Oven
  • Range
  • Dishwasher
  • Laminate Countertops

Flooring

  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • Walk-In Closet
  • Double Vanity
  • Bathtub with Shower

Home Security

  • Smart Locks
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector
  • Fire Sprinkler System

Outdoor Features

  • Patio

Schools

  • Wilson Elementary School
  • Hedrick Middle School
  • South Medford High School

Utilities

  • Forced Air Heating and Cooling System
  • Heat Pump System
  • Water Heater

Community Details

  • No Home Owners Association
  • 8 Units
  • Rogue Valley Heights Extension Subdivision

Listing and Financial Details

  • Exclusions: Tenants personal property
  • Assessor Parcel Number 10317006

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,085

Year Built

Built in 2017

Lot Details

0

Listing Details

  • Architectural Style: Craftsman
  • Unit Levels: One
  • Lot Size Acres: 0.36
  • Prop. Type: Residential Income
  • New Construction: No
  • Property Sub Type: Multi Family
  • Subdivision Name: Rogue Valley Heights Extension
  • Year Built: 2017
  • Co List Office Mls Id: orEXP4
  • Co List Office Phone: 888-814-9613
  • Co List Office Phone: 888-814-9613
  • Outside Inclusions: All Apliances
  • MLS Status: Closed
  • ResoBuildingAreaSource: Assessor
  • General Property Information Elementary School: Wilson Elem
  • General Property Information Middle Or Junior School: Hedrick Middle
  • General Property Information High School: South Medford High
  • General Property Information:Zoning2: Mfr-20
  • General Property Information Audio Surveillance on Premises YN: No
  • View Territorial: Yes
  • Sewer:Public Sewer: Yes
  • Water Source:Public: Yes
  • General Property Information New Construction YN: No
  • Appliances Refrigerators: Yes
  • Flooring Laminate: Yes
  • Levels:One: Yes
  • Security Features:Carbon Monoxide Detector(s): Yes
  • Security Features:Smoke Detector(s): Yes
  • Flooring:Vinyl: Yes
  • Utilities:Electricity Connected: Yes
  • Cooling:Central Air: Yes
  • Flooring:Carpet: Yes
  • Roof:Composition: Yes
  • Foundation Details Concrete Perimeter: Yes
  • Architectural Style Craftsman: Yes
  • Security Features:Fire Sprinkler System: Yes
  • Common Walls 2 Common Walls: Yes
  • Special Features: None

Interior Features

  • Appliances: Dishwasher, Oven, Range, Refrigerator, Water Heater
  • Flooring: Carpet, Laminate, Vinyl
  • Interior Amenities: Ceiling Fan(s), Double Vanity, Laminate Counters, Shower/Tub Combo, Smart Locks, Walk-In Closet(s)
  • Window Features: Double Pane Windows
  • Appliances Dishwasher: Yes
  • Appliances Range: Yes
  • Interior Features:Laminate Counters: Yes
  • Appliances:Oven: Yes
  • Interior Features ShowerTub Combo: Yes
  • Interior Features:Ceiling Fans: Yes
  • Interior Features:Double Vanity: Yes
  • Interior Features:Walk-In Closet(s): Yes
  • Interior Features Smart Locks: Yes

Exterior Features

  • Common Walls: 2+ Common Walls
  • Construction Type: Frame
  • Exterior Features: Patio
  • Foundation Details: Concrete Perimeter
  • Lot Features: Level, Sprinklers In Front, Sprinklers In Rear
  • Roof: Composition
  • View: Territorial
  • Exclusions: Tenants personal property
  • Lot Features:Level: Yes
  • Construction Materials:Frame: Yes
  • Lot Features:Sprinklers in Front: Yes
  • Lot Features:Sprinklers In Rear: Yes
  • Window Features:Double Pane Windows: Yes
  • Exterior Features:Patio: Yes

Garage/Parking

  • Parking Features: Asphalt, Parking Lot
  • Attached Garage: No
  • Parking Features:Asphalt: Yes
  • Parking Features:Parking Lot: Yes

Utilities

  • Cooling: Central Air
  • Heating: Forced Air, Heat Pump
  • Security: Carbon Monoxide Detector(s), Fire Sprinkler System, Smoke Detector(s)
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Heater: Yes
  • Heating:Forced Air: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Elementary School: Wilson Elem
  • High School: South Medford High
  • Middle Or Junior School: Hedrick Middle

Lot Info

  • Additional Parcels: No
  • Lot Size Sq Ft: 15681.6
  • Parcel #: 10317006
  • ResoLotSizeUnits: Acres
  • Zoning Description: Mfr-20
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 8

Tax Info

  • Tax Annual Amount: 12085.25
  • Tax Year: 2023

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 Change Sq Ft Price
07/24/2024 07/24/24 Sold $1,620,000 -4.7% $159 / Sq Ft
07/02/2024 07/02/24 Pending -- -- --
06/05/2024 06/05/24 For Sale $1,700,000 -- $167 / Sq Ft
Source: Oregon Datashare

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jake Rockwell

    Seller's Agent in 2024

    Jake Rockwell

    eXp Realty, LLC

    (541) 292-6962

    239 Total Sales

    Jake Rockwell
    Section Image
  • Rockwell Group

    Seller Co-Listing Agent in 2024

    Rockwell Group

    eXp Realty, LLC

    (541) 292-4444

    477 Total Sales

    Rockwell Group
    Section Image
  • Ada Sanchez

    Buyer's Agent in 2024

    Ada Sanchez

    RE/MAX

    (541) 531-8432

    190 Total Sales

    Ada Sanchez
    Section Image
See All Agents

Map

Source: Oregon Datashare

MLS Number: 220183982

Oregon Datashare
Oregon Jackson County Medford 97504

2220 Crater Lake Ave, Medford, OR

This home is located at 2220 Crater Lake Ave, Medford, OR 97504 since 05 June 2024. This property was built in 2017. 2220 Crater Lake Ave is a home located in Jackson County with nearby schools including Kennedy Elementary School, Hedrick Middle School, and North Medford High School.

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