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468 NE Olney Ave - 466 & 468 Olney Duplex 2 Unit Apartment Building Offered at $599,000 at a 4.75% Cap Rate Bend, OR 97701
INVESTMENT HIGHLIGHTS
- Property consists of two income-producing apartments with consistent monthly rents
- Below market rents
- Highly sought-after rental location
- Excellent location in the heart of Bend
- Recent upgrades to bathrooms and kitchens
- Cap rate of 4.75%
EXECUTIVE SUMMARY
This duplex at 466 & 468 NE Olney Ave. offers two income-producing two-bedroom units with stable tenants in place, generating a total of $3,320 in monthly rent. Priced at $599,000, the property sits on a 7,405 SF lot with 1,600 SF of building space and includes three onsite parking spaces. Recent kitchen and bathroom upgrades, below-market rents, and a highly desirable location contribute to its strong investment appeal. With an estimated NOI of $28,471.20 and a cap rate of 4.75%, this asset presents solid cash flow and upside potential in a competitive rental market.
PROPERTY FACTS Under Contract
| Price | $599,000 | Lot Size | 0.17 AC |
| Price Per Unit | $299,500 | Building Size | 1,600 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.75% | No. Stories | 1 |
| No. Units | 2 | Year Built | 1948 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RH - Residential High Density | ||
| Price | $599,000 |
| Price Per Unit | $299,500 |
| Sale Type | Investment |
| Cap Rate | 4.75% |
| No. Units | 2 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.17 AC |
| Building Size | 1,600 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1948 |
| Opportunity Zone |
Yes |
| Zoning | RH - Residential High Density |
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Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (82)
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468 NE Olney Ave - 466 & 468 Olney Duplex
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