Two Homes

Two For the Price of One! Two homes on One Lot in West Medford
342 Summit & 734 Palm, Medford OR 97501
Two legal dwellings on one lot. This property has been owned by the same owner for many decades. Lovingly cared for, carefully maintained and always loved, this property speaks of pride of ownership. The seller has moved to assisted living and wants to find a buyer that appreciates the great qualities of this property.

The main house is addressed as 734 Palm St. It is a three bedroom, one bath and the second unit is a one bedroom, one bath. They are both metered separately for all utilities so it would be easy to rent one and live in the other. The second unit is addressed as 342 Summit Avenue.

The total square footage is 1966 with the front unit having 1196 sq ft and the second unit being 800 sq ft. There is a two-car garage that is detached from both units and a great fenced backyard that is shared. Each unit has it’s own entry for total privacy.

The front unit has a nice living room and dining area, country kitchen, indoor laundry room and three bedrooms. It is heated and cooled by a heat pump and there is also a pellet stove. The second unit has a large bedroom and bathroom, a small kitchen, living room/dining room and indoor laundry area.

Both units are rented at this time and the tenants would like to stay. Both units are rented for $600 per month. The front unit is approximately $100-150 under market rent and the tenant does the yard work in exchange for the extra rent.

The property has been used throughout the life of it in many different ways. At one time the seller lived in the smaller unit and her daughter and family lived in the larger unit. Then the seller lived in the larger unit and rented the smaller unit to offset her house payments and finally both units are rented at this time. It would also work well if someone wanted to have a home office that needed to have a separate space. The possibilities are endless!