42-Unit Garden-Style Apartment
1280-1330 NE Purcell Blvd Bend, OR 97701
1280-1330 NE Purcell Blvd, Bend, OR, 97701
Contact for pricing
For Sale
Contact for pricing
Forty-two two-bedroom flats in six two-story buildings with covered parking and 100% occupancy.
Property Size37,712 SF
Lot Size1.98 Acres
Price / SF$232.74
Days on Market52
Property Features for 1280-1330 NE Purcell Blvd
General Information
- Standard status
- Active
- Size
- 37,712 SF
- Lot size
- 1.98 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1993
Listing agency
NAI Cascade Commercial Real Estate Services, Worldwide
Listed by
Chuck Brazer · License #200301175
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 6:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Cascade Commercial Real Estate Services, Worldwide
Investment Insights
Based on property information with market context.
Spring Pines Apartments is a 42-unit multifamily community made up of six two-story, garden-style apartment buildings constructed in 1993. The property offers a uniform unit mix of 2 bedroom, 1 bathroom flats, averaging approximately 888 square feet. With 72 parking spaces on site, including covered parking, the community supports practical day-to-day operations. Long-term ownership has maintained the property and supported ongoing interior improvements, and the community is currently self-managed.
Located at 1280–1330 NE Purcell Blvd in Northeast Bend, Spring Pines sits along one of the area’s primary residential corridors. The property provides walkable access to St. Charles Medical Center and is also within walking distance to Pilot Butte State Park.
For investors or operators, the current occupancy is reported as 100% as of May 2026, with existing rents ranging from $895 to $1,777 per month for the 2BD/1BA unit type. The owner does not currently bill tenants back for utilities, and the property is described as having opportunities for operational improvements such as implementing a utility reimbursement program, continuing interior modernization, and pursuing in-unit washer and dryer installations in lower-level units that already have hookups.
Located at 1280–1330 NE Purcell Blvd in Northeast Bend, Spring Pines sits along one of the area’s primary residential corridors. The property provides walkable access to St. Charles Medical Center and is also within walking distance to Pilot Butte State Park.
For investors or operators, the current occupancy is reported as 100% as of May 2026, with existing rents ranging from $895 to $1,777 per month for the 2BD/1BA unit type. The owner does not currently bill tenants back for utilities, and the property is described as having opportunities for operational improvements such as implementing a utility reimbursement program, continuing interior modernization, and pursuing in-unit washer and dryer installations in lower-level units that already have hookups.
Key Highlights
- Spring Pines Apartments: 42‑unit multifamily property built in 1993
- Six two‑story garden‑style buildings on a 1.98‑acre site along NE Purcell Blvd
- Uniform unit mix: 2BD/1BA flats averaging approx. 888 SF, with rents currently ranging from $895 to $1,777/month
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $950.3k | $25.20 |
| − Vacancy | −$72.2k | −$1.92 |
| EGI | $878.1k | $23.28 |
| − OpEx | −$395.2k | −$10.48 |
| NOI | $483.0k | $12.81 |
37,712 SF · lease $25.20/SF/yr · vacancy 7.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.90M
$6.04M – $8.05M
NOI $482,964 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.29M
$14.26M – $19.01M
NOI $1,140,411 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Forty-two two-bedroom flats in six two-story buildings with covered parking and 100% occupancy.
Where is this apartment building located?
The property is located at 1280-1330 NE Purcell Blvd Bend, OR.
What is the asking price?
The asking price for this property is $8,777,000.
What are key features of this property?
This property features: Spring Pines Apartments: 42‑unit multifamily property built in 1993; Six two‑story garden‑style buildings on a 1.98‑acre site along NE Purcell Blvd; Uniform unit mix: 2BD/1BA flats averaging approx. 888 SF, with rents currently ranging from $895 to $1,777/month
