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| THEOFFERING |
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| Property |
Applegate Trails |
| PropertyAddress |
4520 Bristol Avenue |
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Klamath Falls, OR 97603 |
| Assessor'sParcelNumber |
ContactAgent(3parcels) |
| Zoning |
41 |
| SITEDESCRIPTION |
|
| NumberofUnits |
49 |
| NumberofBuildings |
5 |
| NumberofStories |
2 |
| YearBuilt |
1995 |
| RentableSquareFeet |
43,639 |
| LotSize |
4.88Acres |
| TypeofOwnership |
FeeSimple |
| Density |
10Units/Acre |
| Parking |
14garages/70parkingspaces |
| ParkingRatio |
1.71spacesperunit |
| Landscaping |
Maturetrees,shrubs,lawn |
| Topography |
Flat |
| UTILITIES |
|
| Water |
Paid by Owner |
| Phone |
Paid by Tenant |
| Electric |
Paid by Tenant |
| Gas |
Paid by Tenant |
| CONSTRUCTION |
|
| Foundation |
Concret Slab on Grade |
| Framing |
Wood |
| Exterior |
Vinyl |
| ParkingSurface |
Paved and Striped |
| Roof |
Composite Shingle |
| MECHANICAL |
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| HVAC |
Forced Air Gas Heat |
Applegate Trails was constructed in 1995 and is currently part of the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an extended use agreement in place until January 1, 2046 which requires all 49 units to be rented to households earning no more than 60% of the local Area Median Income (AMI). The qualified purchaser can be a nonprofit or for-profit entity that agrees to maintain the affordable housing units and fulfill all requirements of the existing extended use agreement.
There are 6 one bedroom, 27 two bedroom, and 16 three bedroom units. Residents benefit from a multitude of amenities including a playground area, enclosed garages, on-site laundry facilities, and community center. Apartment features include private patios/balconies, energy efficient appliances, and washer/dryer connections in 2BD & 3BD units.
Furthermore, there is 1.73 acres of vacant land adjacent to the property which could be used to expand the density of the project. Please note, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES with regards to expansion potential on this land. Ability to put additional units on the vacant land is subject to buyer sole due diligence.
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Kalamath Falls Highlights
Klamath County is proudly the “Home of Crater Lake National Park”. Klamath County is also the fourth largest county in Oregon encompassing more than 6100 square miles. Considered high desert, the region basks in an average of 300 days of sunshine per year. Klamath Lake, which covers 133 square miles, borders the city of Klamath Falls on the north and is the largest natural lake west of the Great Salt Lake.
Klamath County has a population of 63,775 with most of its residents located with in the county seat of Klamath Falls and its urban growth boundary. The urban growth area of Klamath Falls accommodates 40,100 residents, which includes the 20,940 residents of the City of Klamath Falls. Klamath County is home to both private and public schools which have received state-wide and national accolades.
Located in Klamath Falls, Oregon Institute of Technology is the only public, accredited polytechnic university in the Pacific Northwest. The university was founded in 1947 to educate servicemen returning from World War II. Throughout its history, OIT has maintained vital relationships with industry partners to be responsive to workforce needs. The university's main campus is in Klamath Falls, with two campuses in the Portland-metropolitan area and specific degree programs delivered in Seattle, Medford and La Grande. The graduate placement rate is 98 percent, with an average starting salary of $54,000. The university's overall enrollment is 3,318. OIT is ranked among the US News & World Report Top 10 Baccalaureate Colleges in the West, and is home to the national champion Hustlin' Owls Men's Basketball Team. OIT was the first university in the United States to offer a Renewable Energy Systems bachelor's degree, graduating its first student in June 2008.
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