Multifamily Townhome
New
For Sale
$2,399,000
20550 Empire Avenue, Bend, OR 97701
Commercial Sale, Bend, OR
Property Size9,548 SF
Lot Size0.16 Acres
Price / SF$251.26
Days on Market2
Property Features for 20550 Empire Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
RH
Parking features
Open, Parking Lot
Window features
ENERGY STAR Qualified WIndows, Double Pane Windows, Vinyl Frames
Patio and Porch features
Patio, Porch, Deck
Interior features
Built-in Features, Ceiling Fan(s), Smart Thermostat, Vaulted Ceiling(s)
Exterior features
Built-in Barbecue, Fire Pit
Fireplace
1
Subdivision
Calaveras
Lot features
Landscaped, Level, Sprinklers In Front, Xeriscape Landscape
View
Territorial, Mountains
Directions
NE Empire Ave and Boyd Acres Rd
Standard status
Active
APN
261989
Size
9,548 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15000
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Fireplace(s), Natural Gas, Energy Star Qualified Equipment (Heating)
Cooling system
Central Air, ENERGY STAR Qualified Equipment
Water source
Public
Building Details
Year built
2022
Floors in Building
3
Number of units
6
Flooring type
Laminate, Tile, Carpet
Building materials
Concrete, Double Wall/Staggered Stud, Frame
Roof type
Composition
Listing Agency:
Coldwell Banker Bain · Coldwell Banker Real Estate
(541) 382-4123
Listed By:
Brent Theodore Barker
(602) 697-7769
Added: Oct 21
Last Checked: Oct 22 at 1:06AM
MLS# 220230284
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This multifamily offering comprises six townhomes across three floor plans: Summit, Tumalo, and Metolius. The residences feature three or four bedrooms, 2.5 or 3 bathrooms, and oversized two-car garages. Open kitchens include quartz countertops, stainless steel appliances, and gas ranges. Laminate flooring extends through the kitchen, dining, and living areas, with tile and carpet also used in the homes. Built in 2022, the property includes patios, porches, decks, a built-in barbecue, and a fire pit.
The property totals 9,548 square feet on 0.16 acres in Bend. Public water and sewer serve the site. Heating is provided by forced air and natural gas, with central air conditioning. Fireplace(s), vaulted ceilings, ceiling fans, and smart thermostats are among the interior features.
The property totals 9,548 square feet on 0.16 acres in Bend. Public water and sewer serve the site. Heating is provided by forced air and natural gas, with central air conditioning. Fireplace(s), vaulted ceilings, ceiling fans, and smart thermostats are among the interior features.
Key Highlights
- Six townhomes with three floor plan designs: Summit, Tumalo, and Metolius
- 9,548 square feet on a 0.16‑acre site
- Three- and four‑bedroom layouts with 2.5 or 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,278
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,445,560
$2.4M
Cap Rate 7%
$1,746,829
$1.7M
Cap Rate 9%
$1,358,644
$1.4M
Market Conditions
NOI Build-Up for 9,548 SF
Gross rent
$240.6K $25.20/SF
− Vacancy
−$18.3K −$1.92/SF
EGI
$222.3K $23.28/SF
− OpEx
−$100.0K −$10.48/SF
NOI
$122.3K $12.81/SF
Area
Bend, 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%
$2,445,560
Cap Rate 7%
$1,746,829
Cap Rate 9%
$1,358,644
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,278 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.12M
$3.61M – $4.81M
NOI $288,732 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
859
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?
Multifamily property - Six townhomes offer three floor plan options, attached oversized two-car garages, and open kitchens with quartz counters.
Where is this multifamily property located?
The property is located at 20550 Empire Avenue Bend, OR.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Six townhomes with three floor plan designs: Summit, Tumalo, and Metolius; 9,548 square feet on a 0.16‑acre site; Three- and four‑bedroom layouts with 2.5 or 3 bathrooms
