Price Reduced Listing
Description
Prime Development or Fixer Opportunity Blocks from UO!Attention investors, flippers, and developers: unleash the massive potential of this 1945 classic, situated in the highly coveted South University Neighborhood. Located just blocks from the University of Oregon in one of Eugene's strongest student housing corridors, this property offers incredible land value and unparalleled versatility. The home itself features 4 bedrooms, 2 bathrooms, and 2,654 square feet of space, including a full, partially finished basement and a detached 1-car garage. While it has significant deferred maintenance and is being sold strictly as-is, its history as a student rental-previously bringing in an under-market $2,800 per month-proves its consistent, high-demand draw.The real magic lies in the rare R-3 limited high-density zoning on this generous 0.21-acre developable lot. Preliminary talks with the City of Eugene indicate incredible upside, allowing for a minimum of 5 units and up to 19 units for a complete redevelopment. Alternatively, you can choose to renovate the existing structure to flip, keep it as a charming single-family home, or update the space to maximize cash flow by renting by the door. Everything your future tenants or buyers need is within walking distance, including campus, vibrant dining, shopping, local services, schools, and public transportation. Whether you want to build up, renovate, or add a powerhouse asset to your portfolio, opportunities with this much zoning flexibility rarely hit the market. Bring your tool belt, your architect, and your vision-this property is priced for immediate potential! (Buyer to do due diligence regarding redevelopment potential and city requirements.)
Details
| MLS # | 745020638 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1945 |
| Days On Site | 71 |
| Listing Provided By | Coldwell Banker Professional Group | Jamie Black |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 2,654 |
| Garage | 1 |
| Basement | Y |
| Story(s) | 3 |
| Zoning | R-3 |
| Acreage | 0.21 |
Interior
| Heating | Forced Air |
|---|---|
| Heating Yn | Yes |
| Cooling | None |
| Cooling Yn | No |
| Window Features | Double Pane Windows, Vinyl Frames |
| Appliances | Dishwasher, Free Standing Range |
Exterior
| Exterior Features | Deck |
|---|---|
| Roof | Composition |
| Security Features | None |
| Foundation Details | Block |
| Lot Features | Level, On Busline, Public Road |
Parking
| Attached Garage Yn | No |
|---|---|
| Parking Features | Driveway, On Street |
Taxes
| Property | 5286 |
|---|
Area Information
| State | OR |
|---|---|
| County | Lane |
| City | Eugene |
| Zip Code | 97401 |
| Community Name | SOUTH UNIVERSITY NEIGHBORHOOD |
| School District | South Eugene |
| Elementary School | Edison |
| High School | South Eugene |
| Listing VS Median (in SOUTH UNIVERSITY NEIGHBORHOOD) | |
Price: $599,000 low | high Med: $599,000 sqft: 2,654 low | high Med: 2,654 $ / sqft: $226 low | high Med: $226 On site: 71 low | high Med: 71 | |
Market Activity 97401
Request a showing
Request a showing
Contact
Learn More About This Property
| State | OR |
|---|---|
| County | Lane |
| City | Eugene |
| Zip Code | 97401 |
| Community Name | SOUTH UNIVERSITY NEIGHBORHOOD |
| School District | South Eugene |
| Elementary School | Edison |
| High School | South Eugene |
| Listing VS Median (in SOUTH UNIVERSITY NEIGHBORHOOD) | |
Price: $599,000 low | high Med: $599,000 sqft: 2,654 low | high Med: 2,654 $ / sqft: $226 low | high Med: $226 On site: 71 low | high Med: 71 | |
 | $525,000680 E 20th AveEugene, OR 97405 |
 | $550,0002031 Hilyard StEugene, OR 97405 |
 | $465,000423 E 18th AveEugene, OR 97401 |