414 NE Norton Ave - Apartments FOR SALE


Bend, OR 97701- Orchard District
$2,050,000 USD
503-200-2072
414 NE Norton Ave, Bend, OR for Sale
$2,050,000 USD
Apartments - FOR SALE
1/19
null | 5.13% Cap Rate

414 NE Norton Ave
Bend, OR 97701
Orchard District


HIGHLIGHTS

  • Premium location – one mile to Downtown Bend
  • Rare, well-maintained 1990s construction
  • Desirable two-bedroom floor plans
  • New roof, fresh exterior paint and various in-unit upgrades
  • Significant rental upside, 6.16% Market Cap Rate

OVERVIEW

To View the OM and financials, visit our website: https://www.marcusmillichap.com/properties/71394/norton-avenue-apartments The Norton Ave Apartments is a well-maintained, eight-unit garden-style complex located at 414 NE Norton Ave in Bend. Built in 1991, this two-story building features eight spacious two-bedroom, one-bathroom units, each offering approximately 950 square feet of living space. Since 2019, the property has undergone several upgrades, including a new roof, fresh exterior paint, and repairs to the stairs and siding. Interior updates vary by unit, but typically include new paint, flooring, countertops, appliances, lighting fixtures, and hot water heaters in select units. The thoughtfully designed floorplans combine functionality and comfort, with desirable amenities such as off-street parking, dishwashers, white appliances, large shed for additional storage, and on-site laundry facilities. The Norton Ave Apartments are located in Bend’s sought-after Orchard District neighborhood. This prime location places residents just steps away from a wide array of restaurants, bars, and retail shops. Within half a mile, you’ll find three major shopping centers: Wagner Mall, Pioneer Plaza, and Bend Center. For those who love the outdoors, the property offers easy access to the renowned Pilot Butte Scenic Viewpoint, Deschutes National Forest, and Tumalo State Park. Plus, a quick one-mile drive takes you to downtown Bend, where you can explore the beauty of Drake Park along the Deschutes River.

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

8

PRICE/UNIT

$256,250

CAP RATE

5.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1991

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

GI

APN/PARCEL ID

105221

ASK ABOUT THIS PROPERTY

Joshua ReynoldsMarcus & MillichapMore Info
503-200-2072

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

Joshua ReynoldsMarcus & MillichapMore Info
503-200-2072

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