Price cut $26K
$649,000
1/54 BD · 3 BA · 3,911 SF · 0.34 AC
525 Mesa Street
Klamath Falls, OR 97601
#220216280 01 / 29
Pending Price cut $50K on May 27
$645,000
917 E Main Street
Klamath Falls, OR 97601
- Baths
- 0
- Acres
- 0.4
Est. $4,156/mo~199 min to downtown Bend (approx.)
Listing by Windermere Van Vleet & Assoc. · +1 541-779-6520
MLS# 220214847 · Pending
01
About this home
Value-add mixed-use investment with strong income and upside potential. Located on a 17,424 square foot lot, this 12,742 square foot property features four ground-level commercial units and eight residential apartments, supported by ample on-site parking. Currently, four residential units generate $37,272 in annual gross income. With lease-up of remaining apartments at an estimated $900/month and stabilization of commercial space at approximately $0.75 per square foot, projected gross income increases to $127,000 annually. The commercial units offer immediate improvement potential through clean-up and cosmetic updates, enhancing tenant appeal and rental rates. Additionally, the property may offer future redevelopment or full residential conversion potential (buyer to verify), creating further opportunities for appreciation and long-term cash flow. Ideal for investors seeking a scalable asset with multiple exit strategies and strong near-term and long-term returns.
02
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03
Price history
Cut $50K| Date | Event | Price |
|---|---|---|
| May 27, 2026 | Price cut−$50,000 (7.2%) | $645,000 |
| Mar 23, 2026 | Listed for sale | $695,000 |
From the MLS: original list price and latest price change. 197 days on market.
04
Drive times
~199 min to downtown Bend- Sunriver Village~179 min · 150.3 mi
- Mt. Bachelor~188 min · 158 mi
- Old Mill District~197 min · 166.6 mi
- Downtown Bend~199 min · 167.7 mi
- St. Charles Bend~200 min · 169.4 mi
- Sisters~220 min · 186.5 mi
- Redmond Airport (RDM)~221 min · 187 mi
- Smith Rock State Park~232 min · 197.1 mi
Approx. Straight-line distance × 1.3 for roads, at in-town and highway speeds. No traffic, snow, or Hwy 97 construction. Ask Cody about real commute times.
05
Facts & features
- Lot
- 0.4 AC · 17,424 SF
- HOA
- None reported
- Taxes
- $7,832/yr
- County
- Klamath
- Days on market
- 197
- MLS #
- 220214847
- Flooring
- Concrete · Carpet · Vinyl
- Heating
- Ductless
- Cooling
- Evaporative Cooling · Ductless
- Parking
- Parking Lot · Asphalt · On Street
- View
- Territorial · Neighborhood
- Lot
- Corner Lot · Level
- Construction
- Brick · Frame
- Roof
- Membrane
06
Location & schools
Klamath Falls42.2205° N · 121.7649° W
Directions07
Monthly payment
$4,156/mo$4,156/mo
$516,000 loan · 30 yr fixed · 6.5%
- Principal & interest
- $3,261
- Property tax (listing)
- $653
- Home insurance (est.)
- $242
20% · $129,000
6.500%
Loan term
Estimate only. Taxes use the listing's reported amount when there is one; insurance is approximated. A lender can give you an exact number.
More
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#220192629Listing information provided by Oregon Data Share. Data last updated Oct 7, 2026, 10:30 AM.
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