428 NE Burnside Ave
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428 NE Burnside Ave
2 Unit Apartment Building $1,370,000 ($685,000/Unit) 5.25% Cap Rate Bend, OR 97701
Investment Highlights
- CLOSE TO PUBLIC TRANSPORTATION, SHOPPING & RESTAURANTS. NEW PEDESTRIAN WALKWAY TO 'OLD MILL DISTRICT"
- BRAND NEW CONSTRUCTION. ONE UNIT IS BUILT WITH GREEN FLEX CONCRETE & 2ND UNIT IS WOOD STICK FRAMED
- RENTAL INCOME PROPERTY: TAX DEFERRED EXCHANGE: OPPORTUNITY ZONE TAX BENEFITS: CENTRALLY LOCATED
Executive Summary
BEND OREGON "OPPORTUNITY ZONE" PROPERTY. LOCATED IN BEAUTIFUL BEND MIDTOWN AREA. TWO 2024 CUSTOM BUILT SINGLE FAMILY HOMES. BOTH HOMES BOAST: OPEN GREAT ROOM W/VAULTED CEILINGS & FAN. STAINLESS STEEL APPLIANCES, WOOD LAMINATE FLOORING THROUGHOUT. THREE BEDROOMS & THREE FULL BATHS. OFFSTREET RV, BOAT, TOYS PARKING. TONS OF STORAGE. TWO CAR ATTACHED GARAGE WITH ENCLOSED STORAGE AREA. MINI SPLIT HEATING AND COOLING SYSTEM, ON DEMAND HOT WATER, SOFT CLOSE DRAWERS & CABINETS IN KITCHEN AND BATHROOMS
FINANCIAL ANALYSIS SPREADSHEETS AVAILABLE. TAX MAP AVAILABLE GIVE US A CALL TO TOUR THIS AWESOME PROPERTY !!
FINANCIAL ANALYSIS SPREADSHEETS AVAILABLE. TAX MAP AVAILABLE GIVE US A CALL TO TOUR THIS AWESOME PROPERTY !!
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$71,880
|
$45.93
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$71,880
|
$45.93
|
| Taxes |
$3,313
|
$2.12
|
| Operating Expenses |
$2,920
|
$1.87
|
| Total Expenses |
$6,233
|
$3.98
|
| Net Operating Income |
$65,647
|
$41.95
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $71,880 |
| Annual Per SF | $45.93 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $71,880 |
| Annual Per SF | $45.93 |
| Taxes | |
|---|---|
| Annual | $3,313 |
| Annual Per SF | $2.12 |
| Operating Expenses | |
|---|---|
| Annual | $2,920 |
| Annual Per SF | $1.87 |
| Total Expenses | |
|---|---|
| Annual | $6,233 |
| Annual Per SF | $3.98 |
| Net Operating Income | |
|---|---|
| Annual | $65,647 |
| Annual Per SF | $41.95 |
Property Facts
| Price | $1,370,000 | Apartment Style | Single Family Home |
| Price Per Unit | $685,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 1,565 SF |
| Cap Rate | 5.25% | Average Occupancy | 50% |
| Sale Conditions | 1031 Exchange | No. Stories | 2 |
| No. Units | 2 | Year Built | 2024 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $1,370,000 |
| Price Per Unit | $685,000 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| Sale Conditions | 1031 Exchange |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Lot Size | 0.14 AC |
| Building Size | 1,565 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 2024 |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Deck
- Dining Room
- Double Pane Windows
- Framed Mirrors
- Freezer
- Handrails
- Instant Hot Water
- Lawn
- Mud Room
- Office
- Porch
- Vinyl Flooring
- Window Coverings
- Workshop
Site Amenities
- Fenced Lot
- Car Wash Area
- Gas Range
- Smoke Free
- Trash Pickup - Curbside
- Walking/Biking Trails
- Bicycle Storage
- Public Transportation
- Fiber Optic Internet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+5 | 2 | $2,995 | 1,500 - 1,750 |
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Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (84)
zoning
| Zoning Code | RESIDENTIAL HIGH DENSITY (THIS PROPERTY IS LOCATED IN THE "OPPORTUNITY ZONE" WHICH HAS MANY TAX BENEFITS FOR A BUY AND HOLD TRANSACTION. MORE INFORMATION PROVIDED UPON REQUEST) |
| RESIDENTIAL HIGH DENSITY (THIS PROPERTY IS LOCATED IN THE "OPPORTUNITY ZONE" WHICH HAS MANY TAX BENEFITS FOR A BUY AND HOLD TRANSACTION. MORE INFORMATION PROVIDED UPON REQUEST) |
-
Lisa Campbell - CDI Northwest LLC
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428 NE Burnside Ave
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