White Pine Apartments | $1,150,000

16 Units | 1120 Pine St, Klamath Falls, OR 97601

  • Strong Renter Demographics: With no apartment construction in the downtown corridor since the 1930s, professionals at Sky Lakes Medical Center, Oregon Institute of Technology, and area retirees continue to seek safe, clean, and conveniently located apartments like White Pine.

  • Exceptional Location: Located just one block off Main Street in downtown, residents can easily walk to the area’s best dining, shopping, and entertainment options.

  • Vintage Charm: Custom built-ins, crown molding, and original wood floors are just some of the unique finishes that make White Pine a special place to call home.

  • Built-In Rental Upside: The property demonstrates clear rental upside, with current rents averaging approximately 11% below the highest achieved rent at the asset, providing new ownership the opportunity to increase income organically through lease rollovers without requiring additional capital improvements.

Property Highlights

 
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Originally built in 1924, White Pine Apartments exude classic designer charm, with significant capital invested to enhance the property through renovations to the exterior, common areas, and interior finishes of 15 of the 16 units. Recent market analysis indicates that the Klamath Falls rental housing market remains undersupplied, with limited multifamily development in recent years. The majority of rental properties in the area consist of single-family homes or smaller apartment complexes in poor to fair condition, making high-quality apartments like White Pine both rare and highly sought after.