$1,190,000
Madras, OR 97741
MLS# 26-2508
16 beds | 8 baths | 6125 sqft
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Property Description
This property has been one of the best rental properties in Madras, with few if any vacancies. Great place for a family with lots of room to live & play, close to schools, trails & bowling center. While built in 1961, they have been owned by investors that have taken good care of the property for a long-term investment. New Mini Split for HVAC added recently to all units. Nice grass backyard fully fenced. Adjacent to Sahalee Park, with splash park, playground equipment, pavilion and picnic areas. Within walking distance to shops, restaurants, banks and more.
Details
Maps
Documents
Status Change Information
Status Change Timestamp: 2026-09-15
Address
Street Number: 115
Street Direction Prefix: NE
Street Name: A
Street Suffix: Street
County: Jefferson
State: OR
Postal Code: 97741
Directions: From SW 5th Street, go right on NE A Street. Pass NE 6th St, Apartment building is on the left.
Cross Street: SW 5th St
Parcel Number: 9206
Within City Limits?: Yes
Contract
Current Price: $1,190,000
Status: Active
Begin Date: 2026-09-15
List Price: $1,190,000
Listing Agreement: Exclusive Right To Sell
Listing Service: Full Service
Permissible for Vacation Rental: Unknown
Interior
Bedrooms Total: 16
Bathrooms Total: 8
Bathrooms Full: 8
Living Area: 6125
Living Area Source: Assessor
Main Floor Living: Yes
Basement YN: Yes
Building
Year Built: 1961
Year Built Source: Assessor
Stories Total: 2
Accessibility Features YN: No
Lot
Lot Size Acres: 0.46
Lot Size Square Feet: 20037.6
View YN: No
Water Body Access YN: No
Building and Property Details
Exterior Color: Brown
Unit Five
Unit Number: 7
Occupied: Yes
Beds Total: 2
Baths Total: 1
Living Area: 875
Furnished: Unfurnished
Walls: Paint
Parking Spaces: 1
Actual Rent: 1250
Unit Four
Unit Number: 6
Occupied: Yes
Beds Total: 2
Baths Total: 1
Living Area: 875
Furnished: Unfurnished
Walls: Paint
Parking Spaces: 1
Actual Rent: 1250
Unit One
Unit Number: 1
Occupied: Yes
Beds Total: 2
Baths Total: 1
Living Area: 875
Furnished: Unfurnished
Walls: Paint
Parking Spaces: 1
Actual Rent: 1350
Unit Six
Unit Number: 8
Occupied: Yes
Beds Total: 2
Baths Total: 1
Living Area: 875
Furnished: Unfurnished
Walls: Paint
Parking Spaces: 1
Actual Rent: 1250
Unit Three
Unit Number: 4
Occupied: Yes
Beds Total: 2
Baths Total: 1
Living Area: 875
Furnished: Unfurnished
Walls: Paint
Parking Spaces: 1
Actual Rent: 1350
Unit Two
Unit Number: 2
Occupied: Yes
Beds Total: 2
Baths Total: 1
Living Area: 875
Furnished: Unfurnished
Walls: Paint
Parking Spaces: 1
Actual Rent: 1250
Additional Tax and Location Information
Highway 101: N/A
Property Tax ID #: 111301CC06400
Subdivision Block: 3
Subdivision Parcel/Lot: 3
Listing Information
Listing Association Name: Lincoln County BOR
Property Sub Type: Multi Family
Tax Legal
Subdivision Name: N/A
School District: Outside Area
Tax Annual Amount: 8571.77
Tax Year: 2025
Zoning: PCW-C2 Pacific City Community Commercial
Tax Block: 3
Tax Lot: 3
Tax Map Number: 111301CC
AssociationCommunity
Number Of Buildings: 2
Number of Units: 8
Parking Information
Parking Total: 12
Income and Expenses
Cap Rate: 5
Net Operating Income: 62467
Operating Expense: 53189
Total Actual Rent: 9638
Unit Details
Number Of Units Leased: 8
Property Features
Utilities: Cable Available; Electricity Connected; Natural Gas Available; Phone Available; Water Connected; Cable Available; Electricity Connected; Natural Gas Available; Phone Available; Water Connected
Appliances: Electric Oven; Electric Range; Refrigerator
Architectural Style: Traditional
Basement: Full
Construction Materials: Frame
Cooling: Ductless; Window Unit(s)
Fencing: Partial
Flooring: Carpet; Laminate
Foundation Details: Slab; Other
Heating: Ductless; Electric; Baseboard; Other
Levels: Two
Listing Terms: Cash; Conventional
Lot Features: Corner Lot; Landscaped; Level; Sprinklers In Front; Sprinklers In Rear
Parking Features: Driveway; On Street; Open
Possession: Close Of Escrow
Road Frontage Type: City Street
Road Surface Type: Paved
Roof: Metal
Sewer: Private Sewer
Special Listing Conditions: Standard
Water Source: Public
Window Features: Vinyl Frames
Showing Requirements: Call Listing Agent
Documents: Lead Based Paint Disclosure
Rent Roll 
Listing Office: Emerald Coast Realty - Depoe Bay
Office Email: pammugleston@gmail.com
Last Updated: September - 15 - 2026
Information deemed reliable but not guaranteed.