Fountain Blue Apartments 1005 W 7th Ave 12 Unit Apartment Building $1,814,696 CAD ($151,225 CAD/Unit) Eugene, OR 97402

CALL FOR OFFERS SEPT 30th!!!!
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Blue Fountain Apartments, a 12-unit apartment community located between Eugene’s Whiteaker and West Eugene neighborhoods. The property offers investors a compelling value-add opportunity, with the potential to increase rental income by approximately 52% through repositioning units to market rents. Additional cash flow can be realized by implementing paid parking and reactivating the currently non-operational on-site laundry facility. Recent capital improvements include new vinyl windows, updated plumbing and a roof installed within the last 10 years, providing reduced near-term maintenance costs for investors. Select units feature updated flooring, paint, and finishes, creating a strong foundation for continued modernization in a market with historically low vacancy.
Fountain Blue Apartments offers one-bedroom floorplans ranging from approximately 650 to 850 square feet, supported by resident amenities such as off-street parking and a centrally located laundry room. Large layouts and potential improvements allow for further modernization to achieve rental premiums.
The property’s location boasts a Walk Score of 93 and a Bike Score of 100, placing residents within minutes of grocery stores, dining, breweries, coffee shops, parks, and the Willamette River trail system. Fountain Blue is less than three miles from the University of Oregon and Lane Community College’s downtown campus, both of which drive consistent housing demand from students, faculty, and staff. The surrounding market is home to 217,038 residents, with household counts projected to grow 2.8% over the next five years. The area’s median household income is $68,161, reflecting growth of more than 73% since 2010 and projected to reach $76,051 by 2029. Average household income stands at $85,015, supported by steady population growth, strong renter demographics, and a low unemployment rate of 4.0%. In this context, Fountain Blue Apartments is well-positioned to deliver both immediate income gains and long-term appreciation for the next owner.