32-Unit Apartment
New
For Sale
$2,900,000
609 Exchange St, North Bend, OR 97459
Recent roof replacement, shared laundry, and interior updates shape the property’s practical residential offering.
Property SizeContact for details
Days on Market1
Property Features for 609 Exchange St
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
95%
Additional Details
Cap Rate
7%
Multifamily Units
32
Amenities
resident parking
common laundry
Offered with Seller Financing Terms: Attractive Acquisition Terms Include a Suggested 25% Down Payment, 6% Rate, and 10-Year Term
Coastal Apartment Community: Thirty-Two Units Built in 1948 and Located in North Bend's Established Rental Market
Compelling Rent Upside: Current Rents Offer More Than 16 Percent Upside Through Strategic Lease Adjustments
Proven Renovation Strategy: Nine Updated Units Demonstrate a Repeatable Light Value-Add Program for Future Ownership
Meaningful Capital Improvements: Roofs Replaced in 2019, New Exterior Paint in 2025, Plumbing Improvements Through Much of Property, 10 of 15 Hot Water Heaters Since 2023
Distinctive Hillside Setting: Beautiful Rolling-Hills Layout Creates Visual Appeal, Separation, and a Unique Residential Experience
Attractive Exterior Design: Stucco Façade with Brick Accents Provides Durable Finishes and Strong Curb Appeal
Building Details
Year Built
1948
Units
32
Listing Agency:
Marcus & Millichap - Portland
Listed By:
Whitney Rhoades · License #License(s): OR: 201204200, WA: 25012784
(503) 200-2022
Source:
Marcusmillichap
Added: Oct 19
Last Checked: Oct 19 at 2:16PM
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 Marcus & Millichap - Portland
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 32-unit apartment property in North Bend, Oregon, has a rolling-hills site layout and a stucco exterior with brick accents. Roofs were installed in 2019. Residents have dedicated parking and access to common laundry facilities.
About one-third of the apartments have received light interior improvements, including refinished hardwood floors and tiled entries. The remaining units provide scope for similar updates. Current rents are described as having more than 16 percent upside.
About one-third of the apartments have received light interior improvements, including refinished hardwood floors and tiled entries. The remaining units provide scope for similar updates. Current rents are described as having more than 16 percent upside.
Key Highlights
- 32 apartments in North Bend, Oregon
- Roofs installed in 2019
- About one‑third of the apartments have light updates, including refinished hardwood floors and tiled entries
Property Analytics
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 97459, OR
14,932
Population
6,856
Households
2.2
Avg Household Size
46
Median Age
29%
College-Educated
93%
High-School Grad
109.3 sq mi
ZIP Area
137
Density / Sq Mi
$79,679
Median Household Income
$39,665
Median Earnings
$1,066
Median Rent
$349,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Recent roof replacement, shared laundry, and interior updates shape the property’s practical residential offering.
Where is this apartment building located?
The property is located at 609 Exchange St North Bend, OR.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 32 apartments in North Bend, Oregon; Roofs installed in 2019; About one‑third of the apartments have light updates, including refinished hardwood floors and tiled entries
