Log In/Sign Up
Your email has been sent.
The Rapids on Portland 1215 NW Portland Ave 16 Unit Apartment Building $7,500,000 ($468,750/Unit) Bend, OR 97703
Executive Summary
The Rapids on Portland presents a rare investment opportunity in Northwest Bend, one of Central Oregon's most desirable submarkets. Renovated down to the studs in 2021, this 16-unit luxury townhome community features premium finishes, thoughtfully designed amenities, 100% occupancy, and strong in-place rents, offering investors stable cash flow with limited near-term capital needs. Individually platted condominium units provide future ownership flexibility through potential unit-by-unit sales, while the property's premier Westside location near the Deschutes River, Newport Avenue, and Galveston Avenue supports continued rental demand and long-term value.
Property Facts
| Price | $7,500,000 | Building Class | B |
| Price Per Unit | $468,750 | Lot Size | 0.67 AC |
| Sale Type | Investment | 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 |
| Apartment Style | Garden | ||
| Zoning | RM | ||
| Price | $7,500,000 |
| Price Per Unit | $468,750 |
| Sale Type | Investment |
| 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 |
1 1
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
1 of 27
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
The Rapids on Portland | 1215 NW Portland Ave