803 N Main St
Ashland, OR 97520
Immeuble residentiel Propriété À vendre · 12 Unités

To view the full Offering Memorandum, visit https://www.marcusmillichap.com/properties/118396/circle-a-apartments
Investment Overview
*Please see notes at the bottom of this page*
The Circle A Apartments, located at 803 N. Main Street in Ashland, Oregon, is a 12-unit garden-style multifamily property situated on a single tax lot, totaling 0.92 Acres or over 40,000 square feet. Originally constructed in the 1930's, the property features a desirable unit mix consisting of ten (10) one-bed/one-bath units, one (1) two-bed/one-bath unit, and one (1) three-bed/two-bath standalone house. All apartment units are single-level, providing quiet living with no residents above or below. The house and three of the apartments need repairs or renovations before being rented. The property also includes a plot of approximately 4,000 square feet that is available for other revenue generating opportunities.
The apartment complex includes off-street parking and abundant open space. Two storage sheds and an internal storage area are currently available for landlord use. Units are refurbished with carpet, vinyl, counters, cabinets, paint, lighting fixtures and appliances as required. Several units also feature vaulted ceilings. Notable improvements include a concrete retaining wall located behind the building of units 1-3 and retaining walls behind the buildings of units 7 and 8 and 9-11.
Current ownership self-manages the property and is achieving rents of approximately $1,200 per month for the one-bedroom units. Units #5, #8, #10, and the house are currently vacant, presenting a near-term opportunity to increase monthly income through unit repairs, renovations and lease-ups. Six of the units have not received a rent increase within the past 12 months. Oregon law currently permits up to a 9.5% annual increase in 2026.
The property is zoned R-2, permitting low-density multifamily residential development of up to 13.5 dwelling units per acre. The Property's N. Main Street frontage and sweeping views of the Rogue Valley make this a rare opportunity to own a prime location. The combination of strong visibility, favorable zoning, and scenic surroundings positions the site exceptionally well for future improvements or potential redevelopment.
LOCATION DESCRIPTION:
The Circle A Apartments are conveniently located near a Rogue Valley Transportation District (RVTD) bus stop, providing tenants with easy access to public transit throughout Ashland and the greater Rogue Valley. Additionally, the Property is just one mile from downtown Ashland and the Oregon Shakespeare Festival’s Elizabethan Theatre, two miles from Southern Oregon University, six miles from multiple shopping centers, and within 18 miles of numerous parks, including Lithia Park. The Rogue Valley International–Medford Airport is approximately 14 miles away.
Nestled between the Siskiyou and Cascade mountain ranges in Southern Oregon, Ashland is known for its cultural amenities, strong tourism economy, and proximity to Medford, which has a metro population of over 220,000.
NOTICE TO PROSPECTIVE BUYERS AND THEIR REPRESENTATIVES
Tenants of the property are not to be contacted by the agent, prospective buyers, or their representatives without written permission from the Seller.
Do not disturb the tenants. Do not walk the property at any time without written authorization from the Seller.
NOTES:
Four of the twelve units are currently vacant and require repairs or renovations before they can be rented. The listing price represents net cash to Seller and does not reflect the cost to repair or renovate the four vacant units. All square footage figures are estimated. Buyer to do their own due diligence. Circle A Apartments is not an assumed business name for the Property nor is it an established brand. Circle A Apartments is the project name for the sales process for the Property described in this Offering Memorandum. The name Circle A Apartments is not currently used in the operation of the property.