1280-1330 NE Purcell Blvd, Bend, OR 97701
Forty-two two-bedroom flats in six two-story buildings with covered parking and 100% occupancy.
- Added:
- Jun 1, 2026
- Days on Market:
- 6
- Last Refresh:
- Jun 6 at 3:09 am
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 agent Chuck Brazer License #200301175
Listing office NAI Cascade Commercial Real Estate Services, Worldwide
Listing date Jun 1, 2026
Source Crexi
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
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
- 100% occupancy as of May 2026; self‑managed with a 6.04% cap rate based on in‑place income and trailing 12‑month expenses
- On‑site parking for 72 vehicles, including covered spaces
- Rents average approx. $1,476/unit (about $1.66/SF) and utilities are not billed back to tenants—potential for a utility reimbursement program and rent stabilization
Overview
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.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Bend
- County
- Deschutes
- State
- Oregon
- Longitude
- -121.2742641
- Latitude
- 44.0629298
