3025 7th St Redmond, OR 97756
Property profile & analytics
3025 7th St Redmond, OR 97756
- Apartment buildings
- 1.47 lot acres
Property ID
US71-0881057
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 3025 7th St
- Lot size
- 1.47 lot acres
- Property type
- Apartment buildings
- APN
- 151304 AB 00200
- APU
- 151304AB00200
Description
Exceptional investment opportunity: North 88 Apartments, a stunning 84-unit multifamily complex in Redmond, Oregon, is currently offered at $25,000,000. This new construction property boasts an impressive 83% occupancy rate as of September 2024, up from 75% the previous month. Situated on 3.03 acres, the property comprises six, three and four-story buildings totaling 71,968 square feet of net rentable space. The units, ranging from 708 to 1,348 square feet, feature desirable amenities including stainless steel appliances, in-unit washers and dryers, quartz countertops, and private balconies or patios. Many units also offer high ceilings, electric fireplaces, and extra storage. The property benefits from a prime location just two miles north of downtown Redmond, in a primarily residential area with nearby commercial and retail options. The current average rents exceed those of comparable projects, with one, two, and three-bedroom units averaging $2.29, $2.08, and $2.16 per square foot respectively. Lease terms vary from 6 to 12 months, with the majority being 12-month agreements. Current concessions include a $500 rent reduction and a reduced $500 deposit. The property is professionally managed, and an estimated cap rate of 5.22% is projected at the asking price, based on current rents and stabilized expenses. Construction features include a pitched composition shingle roof, double-paned vinyl windows, and cement fiber siding. The property also includes an on-site playground and off-street parking. With its strong performance, desirable amenities, and location in a rapidly growing market, North 88 Apartments presents a compelling investment opportunity. The property is zoned R4. The APN is 149854 & 284277.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,315,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Redmond
- County
- Deschutes
- State
- Oregon
- Longitude
- -121.175
- Latitude
- 44.3042
- CBSA code
- 13460
- CBSA name
- BEND, OR METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$11,633
$0.00
$0.00
$586,130
-
$627,300
$750,500
$1,377,800
