165 SE Buff St - Apartments FOR SALE


Madras, OR 97741
$1,150,000 USD
608-234-2035
165 SE Buff St, Madras, OR for Sale
$1,150,000 USD
Apartments - FOR SALE
1/7
null | 6.44% Cap Rate

165 SE Buff St
Madras, OR 97741


HIGHLIGHTS

  • Strong Upside in Market Rents
  • Even Split of 1 Bedroom Flats and Attractive High Demand 2 Bedroom Units
  • Extremely Low Vacancy on Highly Sought-After Location
  • Breathtaking Views of Central Oregon’s Natural Beauty
  • Professionally Managed and Maintained with Pride in Ownership
  • Very Walkable Location

OVERVIEW

Buff View Terrace offers a compelling multifamily investment in Madras, the county seat of Jefferson County. Strategically positioned atop a hill, the property provides an elevated ambiance with peek-aboo views of the surrounding mountains. Situated in a primarily quiet residential neighborhood, the complex remains just blocks from the town’s main road, providing convenient access to shopping, dining, employment centers, and essential services. The property consists of 12 well-maintained units, with an even mix of 6 one-bedroom/one-bath and 6 two-bedroom/one-bath units. This diverse unit mix appeals to a broad tenant base, from single professionals utilizing extra space for home offices to growing families, supporting consistent occupancy and long-term demand. Units feature modernized floor plans, luxury vinyl plank (LVP) flooring, updated cadet heating, window-mounted air conditioning, and designated off-street parking. Durable cinder block construction, private unit entry, and on-site security cameras further enhance safety and comfort. Over the past five years, ownership has completed a comprehensive capital improvement program, including new signage, repaved parking, a replaced main sewer line, updated electrical panels, and interior renovations upon turnover. With current rents approximately 20% below market within a one-mile radius, Buff View Terrace presents meaningful upside potential. A new owner can benefit from stable cash flow while realizing additional income through continued upgrades, rent optimization, and operational efficiencies, making this a well-located asset with both stability and long-term growth potential in Central Oregon’s expanding market.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

12

PRICE/UNIT

$95,833

CAP RATE

6.44%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Buff View Terrace

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

R2

APN/PARCEL ID

111312-CB-00601

ASK ABOUT THIS PROPERTY

Nygel DruryMarcus & MillichapMore Info
608-234-2035

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Nygel DruryMarcus & MillichapMore Info
608-234-2035

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.