20-Unit Apartment
1441 NW 4th Street, Redmond, OR 97756
For Sale
$5,800,000
Four buildings occupy separate tax lots, with the option to sell them individually.
Property Size18,862 SF
Price / SF$307.50
Days on Market306
Property Features for 1441 NW 4th Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Ceiling Fan(s)
Kitchen Island
Open Floorplan
Solid Surface Counters
Shower/Tub Combo
Fiberglass Stall Shower
Vaulted Ceiling(s)
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Cascade Hasson SIR
(541) 383-7600
Listed By:
Johnny Taylor Champa
(541) 668-1300
Source:
Desertskyrealestate
Added: Jan 8
Changed: Nov 8
Last Checked: Nov 8 at 8:51AM
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 Cascade Hasson SIR
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Investment Insights
Based on property information with market context.
Completed in 2023, this 18,862-square-foot apartment property comprises 20 units across four buildings on separate tax lots. Two buildings each contain two apartments and two studios; the other two each have three apartments and three studios. The residences combine townhome-style apartments with studios at ground level.
The property is fully leased and professionally managed, with tenants responsible for all utilities. It is zoned C1 and carries a 5.5% cap rate. Separate tax lots allow for the buildings to be sold individually.
The property is fully leased and professionally managed, with tenants responsible for all utilities. It is zoned C1 and carries a 5.5% cap rate. Separate tax lots allow for the buildings to be sold individually.
Key Highlights
- 20 units across four buildings and four separate tax lots
- 18,862 square feet; built in 2023
- Two buildings have two apartments and two studios each; two have three apartments and three studios each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$241,559
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,831,180
$4.8M
Cap Rate 7%
$3,450,843
$3.5M
Cap Rate 9%
$2,683,989
$2.7M
Market Conditions
NOI Build-Up for 18,862 SF
Gross rent
$475.3K $25.20/SF
− Vacancy
−$36.1K −$1.92/SF
EGI
$439.2K $23.28/SF
− OpEx
−$197.6K −$10.48/SF
NOI
$241.6K $12.81/SF
Area
Deschutes County, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,831,180
Cap Rate 7%
$3,450,843
Cap Rate 9%
$2,683,989
Alternative Uses
Best Use
Apartment 5plus
$3.45M
$3.02M – $4.03M
NOI $241,559 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$6.49M
$5.68M – $7.57M
NOI $454,408 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
20
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Four buildings occupy separate tax lots, with the option to sell them individually.
Where is this apartment building located?
The property is located at 1441 NW 4th Street Redmond, OR.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 20 units across four buildings and four separate tax lots; 18,862 square feet; built in 2023; Two buildings have two apartments and two studios each; two have three apartments and three studios each
