10-Plex Near St. Charles 2422-2444 NE Conners Ave Bnd 10 Unit Apartment Building $2,585,000 ($258,500/Unit) 4.89% Cap Rate Bend, OR 97701

2422–2444 NE Conners Ave offers investors the opportunity to acquire a fully leased 10-unit multifamily property near St. Charles Medical Center in Bend, Oregon. The property consists of two residential buildings totaling ±12,314 SF on 0.56 acres and features a desirable unit mix of eight two-bedroom residences and two one-bedroom units. The two-bedroom units include attached garages, creating a townhome-style residential feel that differentiates the asset from typical apartment product in the submarket.
The property is 100% occupied and benefits from stable in-place cash flow with measurable rent growth potential. Current scheduled rents total $16,650 per month per the April 15, 2026 rent roll, with projected market rents supporting upside as leases renew. The offering package also includes a unit-by-unit upgrade summary documenting improvements across flooring, appliances, fixtures, bathrooms, hardware, doors, furnaces, decks, and other interior components.
Located near St. Charles Medical Center, The Center, Cascade Surgicenter, schools, shopping, dining, and major eastside Bend corridors, the property is well positioned to attract and retain tenants seeking access to employment, healthcare, and everyday amenities. Offered at $2,585,000, the asset provides investors with in-place income, documented property improvements, and a strong location in one of Central Oregon’s most durable rental markets.