NOT LISTED FOR SALE

521 Madison (-563) SE Albany, OR 97321

Willamette Neighborhood
20 Beds
20 Baths
17,728 Sq Ft
0.44 Acres

Last Sold June 30, 2016

Last sale price $637,000 $36 Per Sq Ft

252 Days on Market

Highlights

  • 0.44 Acre Lot
  • Territorial View
  • Zoned Heating
  • West Albany High School Rated 9+
  • Tile Flooring
  • Laundry Facilities

About This Home

As of June 2016

Two buildings, each comprised with 10 studio apartments and two shared kitchens, dining room and laundry areas in each building. Stable vacancy rates, well maintained. Expenses shown are actual. The property is currently owner managed.Cap rate is approx. 8.3% based on actual 2014 income and expense numbers.

Last Agent to Sell the Property

Jennifer Hand

GALL REAL ESTATE SERVICES LLC License #960600193 Listed on: 07/14/2015

Last Buyer's Agent

Jennifer Hand

GALL REAL ESTATE SERVICES LLC License #960600193 Listed on: 07/14/2015

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,095

Year Built

  • Built in 1975

Lot Details

  • 0.44 Acre Lot
  • Lot Dimensions are 190x101
  • Irregular Lot

Home Design

  • Composition Roof
  • Wood Siding
  • T111 Siding

Interior Spaces

  • 17,728 Sq Ft Home
  • Territorial Views

Kitchen

  • Electric Range
  • Dishwasher

Flooring

  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 20 Bathrooms

Utilities

  • Zoned Heating
  • Electric Water Heater
  • High Speed Internet

Community Details

Overview

  • 20 Units
  • Madison Street Apartments Community

Amenities

  • Laundry Facilities

Building Details

  • Electric Expense $12,224
  • Insurance Expense $5,225
  • Maintenance Expense $12,954
  • Trash Expense $2,630
  • Water Sewer Expense $12,716
  • Operating Expense $55,509
  • Net Operating Income $60,585

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,095

Year Built

Built in 1975

Lot Details

0

Listing Details

  • Class: Multi Family
  • Type: Multi- (5+)
  • Range Facility: Electric
  • Syndicated Remarks: Two buildings, each comprised with 10 studio apartments and two shared kitchens, dining room and laundry areas in each building. Stable vacancy rates, well maintained. Expenses shown are actual. The property is currently owner managed.Cap rate is approx. 8.3% based on actual 2014 income and expense numbers.
  • Cross Street: 5th Ave
  • Miscellaneous: 1304
  • Year Built: 1975
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Dishwasher: Yes
  • Refrigerator: Refrigerator Included
  • Flooring: Tile, Vinyl
  • Total Bathrooms: 20
  • Total Bedrooms: 20
  • Laundry: Laundry Center
  • Price Per Sq Ft: 35.93
  • Price Per Sq Ft: 36.66

Exterior Features

  • Roof: Composition
  • Siding: Wood
  • Siding Style: T111
  • View: Territorial

Utilities

  • Heating: Electric, Zonal
  • High Speed Comm Access: Present
  • Water: Connected, City
  • Water Heater: Electric
  • Electric: 12224
  • Garbage: 2630
  • Insurance: 5225
  • Sewer: City
  • Water/Sewer: 12716

Condo/Co-op/Association

  • Maintenance: 12954

Lot Info

  • Acres: 0.44
  • Estimated Lot Dimensions: 190x101
  • Estimated Lot Sq Ft: 19166
  • Flood Plain: Unknown
  • Lot Type: Irregular
  • Price Per Acre: 1477045.45
  • Zoning: RM
  • Property Name: Madison Street Apartments
  • Geo Subdivision: OR

Rental Info

  • Total Expenses: 55509

Multi Family

  • Net Income: 60585
  • Gross Sched Income: 122204
  • Unit Types: Flat
  • Number Of Units: 20

Tax Info

  • Tax Account Number: 385399/392
  • Tax Amount: 8095

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
06/30/2016 06/30/16 Sold $637,000 -1.8% $36 / Sq Ft
03/22/2016 03/22/16 Pending -- -- --
07/14/2015 07/14/15 For Sale $649,000 -- $37 / Sq Ft
Source: Willamette Valley MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jennifer Hand

    Seller's Agent in 2016

    Jennifer Hand

    GALL REAL ESTATE SERVICES LLC

    (503) 559-9839

    70 Total Sales

    Jennifer Hand
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Map

Source: Willamette Valley MLS

MLS Number: 693010

Willamette Valley MLS

APN: 0385399

Oregon Linn County Albany 97321 Willamette

521 Madison (-563) SE, Albany, OR

This home is located at 521 Madison (-563) SE, Albany, OR 97321 since 14 July 2015. This property was built in 1975. 521 Madison (-563) SE is a home located in Linn County with nearby schools including Waverly Elementary School, Memorial Middle School, and West Albany High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Willamette Valley MLS Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided ‘AS IS’ and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. WVMLS Member Broker: Arlene Richardson

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