55 Lake Pl Bend, OR 97701
- Residential income homes
- 0.11 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 55 Lake Pl
- Lot size
- 0.11 lot acres
- Property type
- Residential income homes
Description
Exceptional investment opportunity in Bend, Oregon, featuring a three-unit multifamily property comprised of a duplex and a separate cottage. This Class B property, located at 55 NW Lake Pl, boasts a current NOI of $50,000 and a 4.18% cap rate, with a pro-forma NOI projected at $75,000 and a 6.28% pro-forma cap rate. The property sits on a 0.11-acre lot and is zoned CG (Commercial General), offering a multitude of potential uses. Currently operating with three transferable short-term rental permits, this property is fully furnished and equipped with appliances. The property's excellent location provides walkability to Downtown Bend, the Box Factory, and the Old Mill District. This value-add investment presents a unique opportunity to capitalize on the strong Bend rental market. The property includes two buildings, each one story, and features a 50% current occupancy rate. The APN is 104763. This is a freehold property, not subject to a ground lease. The asking price is $1,195,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bend
- County
- Deschutes
- State
- Oregon
- Longitude
- -121.308
- Latitude
- 44.0543
