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2422 NE Conners Ave - 10-Plex Near St. Charles 10 Unit Apartment Building Offered at $2,585,000 at a 4.89% Cap Rate Bend, OR 97701
Investment Highlights
- 100% leased 10-unit multifamily asset
- Townhome-style units with garages
- Located near St. Charles Medical Center
- Two buildings totaling 12,314 SF
- Strong in-place cash flow and upside
- Desirable Bend rental market location
Executive Summary
This fully leased 10-unit multifamily investment opportunity is located near St. Charles Medical Center in Bend, Oregon. The property consists of two well-maintained residential buildings totaling approximately 12,314 SF on 0.56 acres and features eight spacious two-bedroom townhome-style units ranging from approximately 1,330 to 1,356 SF, along with two one-bedroom units of approximately 740 SF. Built in 1992, the wood-frame construction offers pitched composition roofing, attached garages for all two-bedroom units, surface parking, and additional street parking. The property is currently 100% occupied and benefits from long-term tenancy, stable in-place cash flow, and measurable rent growth potential. Current gross rents total approximately $16,650 per month with upside available through continued lease renewals and potential RUBS implementation. Located within Bend’s highly desirable medical corridor, the asset offers proximity to major healthcare employers, retail amenities, schools, and recreation destinations throughout Central Oregon.
Property Facts
| Price | $2,585,000 | Lot Size | 0.56 AC |
| Price Per Unit | $258,500 | Building Size | 12,314 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.89% | No. Stories | 2 |
| No. Units | 10 | Year Built | 1992 |
| Property Type | Multifamily | Parking Ratio | 0.65/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | RH - Residential High Density | ||
| Price | $2,585,000 |
| Price Per Unit | $258,500 |
| Sale Type | Investment |
| Cap Rate | 4.89% |
| No. Units | 10 |
| Property Type | Multifamily |
| Apartment Style | Townhome |
| Lot Size | 0.56 AC |
| Building Size | 12,314 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1992 |
| Parking Ratio | 0.65/1,000 SF |
| Zoning | RH - Residential High Density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | - | 1,330 - 1,331 |
| 2+2.5 | 4 | - | 1,347 - 1,356 |
| 1+1 | 2 | - | 740 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
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2422 NE Conners Ave - 10-Plex Near St. Charles
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