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Listed by Wonderland Realty LLC
$1,650,000
Est. payment /mo
4,554 SqFt
Active
1308 E MAIN ST Cottage Grove, OR 97424
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,554 sqft
Price per Sqft $362
MLS Listing ID 286066990
HOA Y/N No
Year Built 2020
Annual Tax Amount $756
Tax Year 2025
Property Description
Exceptional Mixed-Use Investment Opportunity in the Heart of Cottage Grove! Built by JDL Construction in late 2020, this nearly new development includes a fully rented triplex and a separate commercial building, offering immediate income, long-term stability, and strong investment potential. The triplex features two 575 sq ft 1 bed / 1 bath apartments on the ground level, each equipped with stainless steel appliances and stackable washer/dryers. Above is a stunning 1,704 sq ft penthouse accessed by a private elevator inside the attached two-car garage. This luxurious residence offers 2 bedrooms, 2 bathrooms, an office, indoor laundry, and a large walk-in closet. The chef's kitchen includes two refrigerators, stainless appliances, gas range, quartz countertops, and custom cabinetry. Additional highlights include wide-plank oak flooring, heated tile floors, custom lighting, on-demand hot water, and large picture windows overlooking Coiner Park. The Trex front deck with decorative wrought iron railing spans the length of the penthouse and is accessible through French doors from the primary suite and living room. The separate 1,700 sq ft commercial building is leased with 4 years remaining, providing stable, long-term income. It features ADA compliance, off-street parking, bay door access, ductless HVAC, two bathrooms, conference room, storage room, and front lobby. An electronic wrought iron gate separates the residential and commercial spaces. With existing tenants and strong rental demand, this property offers excellent income potential and future CAP rate upside. Live in the penthouse while generating rental income, or maintain it as a fully functioning investment property. Additional benefit: transferable tax deferral with approximately 4 years remaining, resulting in property taxes of only $756 per year. Prime location, just minutes to I-5 and historic downtown district. A rare opportunity to own one of the best commercial lots on Main Street with built-in income!
Location
State OR
County Lane
Area _235
Zoning C2P
Interior
Heating Ductless
Cooling Mini Split
Exterior
Garage Spaces 2.0
View City, Mountain, Park Greenbelt
Roof Type Flat,Metal
Garage No
Building
Lot Description Level, On Busline
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Bohemia
Middle Schools Lincoln
High Schools Cottage Grove
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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