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1600 Eldon Ave
Baker City, OR 97814
Brookside Manor · Multifamily Property For Sale
·
20 Units
Investment Highlights
- Fully subsidized HAP Contract with 10 years left.
- On-site community center and laundry room.
- Strong rental history.
- Strong maintenance history.
Executive Summary
Marcus & Millichap is pleased to present Brookside Manor, a stable and attractive opportunity to acquire a 20-unit, fully subsidized HAP Affordable Housing community
located in Baker City, Oregon. This property is ideally suited for Affordable Housing investors or mission-aligned operators seeking to preserve long-term Section 8
affordability and explore re-syndication potential through the Low-Income Housing Tax Credit (LIHTC) program or a contract renewal strategy upon HAP expiration.
Brookside Manor is comprised of twenty-one-bedroom units, all covered under a Project-Based Section 8 HAP contract. The current contract is set to expire on
November 1st, 2034.
The current ownership has invested significantly in the property over the past decade. In 2015, ownership completely rebuilt the property’s fencing, sidewalks, and
storm drain system. They also fully excavated and reconstructed the parking lot and its underlying roadbed and drainage systems. Over time, ownership has also
replaced the hot water heaters, stoves, and refrigerators—always opting for better-quality units. Turnover units are repainted and refreshed with new flooring as needed.
In the past two years, all unit foundations have been rebuilt and sealed, and the site has been regraded to enhance runoff and long-term drainage performance.
Baker City, Oregon is a strategically located community along Interstate 84, serving as the county seat and commercial center of Baker County. With a population of
approximately 10,135, Baker City benefits from a stable and aging demographic, with over 23% of residents aged 65 or older. The city’s economic base includes
healthcare, retail, and tourism, supported by regional draws such as the Oregon Trail Interpretive Center, outdoor recreation, and a revitalized historic downtown. Its
manageable size and steady demand for affordable rental housing position it as a resilient location for long-term housing investment.
located in Baker City, Oregon. This property is ideally suited for Affordable Housing investors or mission-aligned operators seeking to preserve long-term Section 8
affordability and explore re-syndication potential through the Low-Income Housing Tax Credit (LIHTC) program or a contract renewal strategy upon HAP expiration.
Brookside Manor is comprised of twenty-one-bedroom units, all covered under a Project-Based Section 8 HAP contract. The current contract is set to expire on
November 1st, 2034.
The current ownership has invested significantly in the property over the past decade. In 2015, ownership completely rebuilt the property’s fencing, sidewalks, and
storm drain system. They also fully excavated and reconstructed the parking lot and its underlying roadbed and drainage systems. Over time, ownership has also
replaced the hot water heaters, stoves, and refrigerators—always opting for better-quality units. Turnover units are repainted and refreshed with new flooring as needed.
In the past two years, all unit foundations have been rebuilt and sealed, and the site has been regraded to enhance runoff and long-term drainage performance.
Baker City, Oregon is a strategically located community along Interstate 84, serving as the county seat and commercial center of Baker County. With a population of
approximately 10,135, Baker City benefits from a stable and aging demographic, with over 23% of residents aged 65 or older. The city’s economic base includes
healthcare, retail, and tourism, supported by regional draws such as the Oregon Trail Interpretive Center, outdoor recreation, and a revitalized historic downtown. Its
manageable size and steady demand for affordable rental housing position it as a resilient location for long-term housing investment.
Property Facts
| Price Per Unit | $134,593 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.12 AC |
| Cap Rate | 6.39% | Building Size | 11,250 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1979 |
| Apartment Style | Garden | Parking Ratio | 1.78/1,000 SF |
| Zoning | RHD | ||
| Price Per Unit | $134,593 CAD |
| Sale Type | Investment |
| Cap Rate | 6.39% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.12 AC |
| Building Size | 11,250 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1979 |
| Parking Ratio | 1.78/1,000 SF |
| Zoning | RHD |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | $1,187 CAD | 525 |
Property Taxes
| Parcel Number | 004277 | Improvements Assessment | $808,200 CAD |
| Land Assessment | $60,680 CAD | Total Assessment | $868,880 CAD |
Property Taxes
Parcel Number
004277
Land Assessment
$60,680 CAD
Improvements Assessment
$808,200 CAD
Total Assessment
$868,880 CAD
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