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The Rapids on Portland 1205-1215 NW Portland Ave 16 Unit Apartment Building $7,500,000 ($468,750/Unit) 5.01% Cap Rate Bend, OR 97703
Executive Summary
The Rapids on Portland presents a rare investment opportunity in Northwest Bend, one of Central Oregon's most desirable sub-markets. Substantially renovated in 2021, the property offers modern finishes, premium amenities, 100% occupancy, and strong in-place rents, providing stable cash flow with limited near-term capital needs. Individually platted condominium units also offer future flexibility through potential individual unit sales.
Property Facts
| Price | $7,500,000 | Apartment Style | Garden |
| Price Per Unit | $468,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.67 AC |
| Cap Rate | 5.01% | Building Size | 14,650 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1973/2021 |
| Zoning | RM | ||
| Price | $7,500,000 |
| Price Per Unit | $468,750 |
| Sale Type | Investment |
| Cap Rate | 5.01% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.67 AC |
| Building Size | 14,650 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2021 |
| Zoning | RM |
Amenities
Site Amenities
- Pet Play Area
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 16 | - | 875 |
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Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $640,080 | |
| Land Assessment | $0 | Total Assessment | $640,080 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$640,080
Total Assessment
$640,080
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Contact the Sale Advisor
The Rapids on Portland | 1205-1215 NW Portland Ave