20540 Empire Ave Bend, OR 97701
- Residential income homes
- 0.57 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 20540 Empire Ave
- Year built
- 2022
- Lot size
- 0.57 lot acres
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents 12 luxury townhomes for sale in Bend, Oregon's desirable northeast area. Part of a larger 76-unit master-planned community, these 12 units are available for purchase individually or as a portfolio. Currently under construction, with completion expected in early 2024, these units boast condo-quality finishes including two-car garages, open floor plans, high ceilings, gourmet kitchens with stainless steel appliances and quartz countertops. Three distinct floor plans (Metolius, Tumalo & Summit) offer 2-3 bedrooms and 2-3 bathrooms, ranging from 1,464 to 1,692 square feet. Each unit features private balconies, individually metered utilities (gas, water, electricity), high-efficiency HVAC and water heaters, and attractive exterior finishes including HardiePlank siding and Milgard windows. The property sits on a 0.57-acre lot and comprises two six-unit buildings. The total net rentable square footage is 19,096, with a current NOI of $334,174 and a 5.34% cap rate. The asking price for the entire portfolio is $6,254,000, or $521,166.67 per unit. This presents a compelling opportunity to capitalize on Bend's robust rental market and potentially benefit from individual unit sales in the future. The property offers Cascade Mountain views and is situated at 20540 NE Empire Ave, Bend, OR 97701. Construction began in 2021, and 36 units have already been completed and sold. Note: An additional fully finished and rent-ready 6-plex building is also available for purchase.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bend
- County
- Deschutes
- State
- Oregon
- Longitude
- -121.2970564
- Latitude
- 44.0905469
