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2598 NW Spruce Cone Ln - Hatch Townhomes 16 Unit Apartment Building Offered at $6,240,000 at a 4.74% Cap Rate Redmond, OR 97756
Investment Highlights
- 16-unit townhome portfolio across eight duplex buildings on 1.04 acres in Redmond’s desirable Dry Canyon neighborhood
- Mix of fourteen 3-bedroom units and two 2-bedroom units with an average unit size of approximately 1,449 SF
- 100% occupied community professionally managed with established operations and stable in-place occupancy
- Completed in 2022 and 2023, offering newer construction with reduced near-term capital expenditure requirements
- 100% occupied community professionally managed with established operations and stable in-place occupancy
- All residences feature attached 2-car garages and modern townhome layouts designed for long-term tenant appeal
Executive Summary
Hatch Townhomes offers investors the opportunity to acquire a newer townhome portfolio in Redmond’s Dry Canyon area. The offering includes 16 total units across eight duplex buildings, with a mix of 14 three-bedroom townhomes and two two-bedroom townhomes. Units feature attached 2-car garages, modern finishes, and an average size of approximately 1,449 SF.
The portfolio is 100% occupied and professionally managed by High Desert Property Management. Current in-place rents remain below market for several units, creating a clear mark-to-market opportunity as scheduled increases take effect and leases renew. With 16 individual tax parcels, newer construction, and a park-adjacent setting near the Dry Canyon trail system, Hatch Townhomes offers stable current income with future pricing flexibility.
The portfolio is 100% occupied and professionally managed by High Desert Property Management. Current in-place rents remain below market for several units, creating a clear mark-to-market opportunity as scheduled increases take effect and leases renew. With 16 individual tax parcels, newer construction, and a park-adjacent setting near the Dry Canyon trail system, Hatch Townhomes offers stable current income with future pricing flexibility.
Property Facts
| Price | $6,240,000 | Lot Size | 1.04 AC |
| Price Per Unit | $390,000 | Building Size | 23,178 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.74% | No. Stories | 2 |
| No. Units | 16 | Year Built | 2022 |
| Property Type | Multifamily | Parking Ratio | 0.69/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | R5 - High Density Residential | ||
| Price | $6,240,000 |
| Price Per Unit | $390,000 |
| Sale Type | Investment |
| Cap Rate | 4.74% |
| No. Units | 16 |
| Property Type | Multifamily |
| Apartment Style | Townhome |
| Lot Size | 1.04 AC |
| Building Size | 23,178 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2022 |
| Parking Ratio | 0.69/1,000 SF |
| Zoning | R5 - High Density Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 14 | - | - |
| 2+2.5 | 2 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
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2598 NW Spruce Cone Ln - Hatch Townhomes
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