Six-Unit Multifamily
404-414 SE Railroad St, Bend, OR 97702
For Sale
$1,650,000
Two adjoining parcels combine a remodeled fourplex with a newly constructed duplex and a six-unit configuration.
Property Size3,920 SF
Days on Market97
Property Features for 404-414 SE Railroad St
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Building Details
Building Size
Year Built
Year Renovated
Units
Listing Agency:
NAI Cascade
Listed By:
Chuck Brazer · License #200301175
(503) 734-7175
Source:
Commercialcafe
Added: Aug 2
Changed: Nov 6
Last Checked: Oct 28 at 5:07AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property comprises six units across two adjoining parcels. The existing fourplex was built in 1971 and underwent extensive interior and exterior remodeling during 2022 and 2023. A separate duplex was newly constructed in 2026 and received its certificate of occupancy in May 2026.
The unit mix includes five one-bedroom, one-bath residences and one two-bedroom, two-bath residence. All six units are currently occupied. The property is located near 3rd Street and Highway 97 in Bend, Oregon, with the fourplex and duplex offered together as one six-unit asset.
The unit mix includes five one-bedroom, one-bath residences and one two-bedroom, two-bath residence. All six units are currently occupied. The property is located near 3rd Street and Highway 97 in Bend, Oregon, with the fourplex and duplex offered together as one six-unit asset.
Key Highlights
- Six units across two adjoining parcels
- Fourplex built in 1971 and extensively remodeled in 2022/23
- New duplex completed in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,991
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,099,820
$1.1M
Cap Rate 7%
$785,586
$785.6K
Cap Rate 9%
$611,011
$611.0K
Market Conditions
NOI Build-Up for 3,920 SF
Gross rent
$84.7K $21.60/SF
− Vacancy
−$6.1K −$1.56/SF
EGI
$78.6K $20.04/SF
− OpEx
−$23.6K −$6.01/SF
NOI
$55.0K $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%
$1,099,820
Cap Rate 7%
$785,586
Cap Rate 9%
$611,011
Alternative Uses
Best Use
Multifamily LT 5
$785.6K
$687.4K – $916.5K
NOI $54,991 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$717.2K
$627.5K – $836.7K
NOI $50,202 @ 7.0% cap · market cap 3.04%
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.98M
NOI $118,541 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,824
Businesses Nearby
Explore this area
Business Placement
Demographics for 97702, OR
51,161
Population
23,318
Households
2.2
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
103.5 sq mi
ZIP Area
494
Density / Sq Mi
$89,094
Median Household Income
$47,743
Median Earnings
$1,825
Median Rent
$620,600
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Bend, OR
Properties on Market for Multifamily properties in Bend
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjoining parcels combine a remodeled fourplex with a newly constructed duplex and a six-unit configuration.
Where is this multifamily property located?
The property is located at 404-414 SE Railroad St Bend, OR.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six units across two adjoining parcels; Fourplex built in 1971 and extensively remodeled in 2022/23; New duplex completed in 2026
