Four-Unit Multifamily
1761 NE Wichita Way, Bend, OR 97701
For Sale
$925,000
Pending
All residences are leased, with shared laundry and storage in a separate common-area building.
Property Size3,654 SF
Days on Market85
Property Features for 1761 NE Wichita Way
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Financials
Gross Income
Average Monthly Rent
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
on-site laundry
shared storage
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Central Oregon Realty Group
Listed By:
Mark Ossinger
Source:
Nexus360realty
Added: Aug 18
Changed: Nov 7
Last Checked: Nov 9 at 2:06PM
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 Central Oregon Realty Group
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Investment Insights
Based on property information with market context.
Built in 1994, this 3,654-square-foot multifamily property contains four two-bedroom residences, with two units on each level. All four are currently leased. Recent exterior work includes a roof replacement, new siding, and fresh paint. Residents share an asphalt parking area, coin-operated laundry, and storage housed in a separate common-area building. The property is zoned RM.
St. Charles Medical Center is a short walk away. The property is located in Bend, Oregon.
St. Charles Medical Center is a short walk away. The property is located in Bend, Oregon.
Key Highlights
- Four two‑bedroom units; all are currently leased
- 3,654 SF multifamily property built in 1994
- Recent roof replacement, new siding, and exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,260
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,025,200
$1.0M
Cap Rate 7%
$732,286
$732.3K
Cap Rate 9%
$569,556
$569.6K
Market Conditions
NOI Build-Up for 3,654 SF
Gross rent
$78.9K $21.60/SF
− Vacancy
−$5.7K −$1.56/SF
EGI
$73.2K $20.04/SF
− OpEx
−$22.0K −$6.01/SF
NOI
$51.3K $14.03/SF
Area
Bend, OR
Vacancy
7.22%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,025,200
Cap Rate 7%
$732,286
Cap Rate 9%
$569,556
Alternative Uses
Best Use
Multifamily LT 5
$732.3K
$640.8K – $854.3K
NOI $51,260 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$668.5K
$584.9K – $779.9K
NOI $46,795 @ 7.0% cap · market cap 5.06%
Theoretical Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,497 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,733
Businesses Nearby
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Business Placement
Demographics for 97701, OR
42,159
Population
19,020
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
94%
High-School Grad
311.8 sq mi
ZIP Area
135
Density / Sq Mi
$77,969
Median Household Income
$47,431
Median Earnings
$1,700
Median Rent
$567,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased, with shared laundry and storage in a separate common-area building.
Where is this quadplex located?
The property is located at 1761 NE Wichita Way Bend, OR.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four two‑bedroom units; all are currently leased; 3,654 SF multifamily property built in 1994; Recent roof replacement, new siding, and exterior paint
