The property at 422-438 Warren St S is a 9-unit student housing portfolio located in Monmouth, Oregon. Built in 2004, the asset consists of two four-plex buildings (eight 3-bedroom, 3-bathroom units at 1,295 SF each) and one detached single-family home (2BR/3BA with garage, 1,075 SF), totaling 11,527 SF on 0.45 acres. The 3-bedroom, 3-bathroom configuration is a high-value rarity in the Monmouth/Independence market, commanding a 10–15% premium over standard 2-bathroom units due to their appeal to university roommate groups. The asset is in excellent condition and represents a significant upgrade over the aging market-base inventory in the submarket. 2025 Actual NOI: $90,883 | Proforma NOI: $125,029 | Gross Income: $155,400.
