51395 Preble Way La Pine, OR 97739
- Residential income homes
- 13,860 SF
- 1.44 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 51395 Preble Way
- Year built
- 2021
- Lot size
- 1.44 lot acres
- Property size
- 13,860 SF
- Property type
- Residential income homes
- APN
- 115024
Description
This exceptional 14-unit multifamily investment property, located at 51395 Preble Way in La Pine, Oregon (97739), presents a compelling opportunity. Built in 2021, the property comprises fourteen three-bedroom, two-bathroom permanently affixed manufactured homes, totaling 13,860 square feet on a 1.44-acre lot. Each unit offers approximately 990 square feet of living space. The property boasts a strong current NOI of $235,796, translating to a 6.21% cap rate and a price per unit of $271,428.57. The asking price for this turnkey investment is $3,800,000, or $274.17 per square foot. Situated in Deschutes County, within close proximity to Sunriver and Bend, this development benefits from the area's thriving tourism and outdoor recreation industries. Rental rates are projected to increase in the near future, further enhancing the property's already attractive return. The property is zoned CRMX and features a single-story building configuration. This is a 1031 exchange eligible property, offering significant tax advantages for qualified investors. The property's strong performance and prime location make it an ideal addition to any investment portfolio. The APN is 115024. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a rapidly growing market.
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
- La Pine
- County
- Deschutes
- State
- Oregon
- Longitude
- -121.50365160942
- Latitude
- 43.667384374112
