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Multifamily

Pioneer Apartments

416 NE 10th St, Prineville, OR 97754

Listing Price: $1,660,000

Cap Rate
5.05%
Number of Units
15
Occupancy
100.0%
Price/Unit
$110,667
Price/Gross SF
$195.55
Gross SF
8,489

Investment Overview

The Pioneer Apartments is a 15-unit, two-story, garden style property located at 416 NE 10th St, Prineville, OR 97754. The property was originally constructed in 1982 and features fourteen (14) one-bedroom/one-bathroom units and one (1) studio unit. Amenities include off-street parking and shared laundry room. The property is privately managed by an on-site manager. Recent capital expenditures include all new exterior paint, new siding on the South-facing side of the complex, and new decks. 50% of the interiors have been updated with new LVP flooring, cabinets, counters, appliances, bath tubs, sinks, and fixtures. Located near Downtown Prineville, residents are within walking distance from many of the amenities that Prineville offers. Prineville is home to state parks, golf courses, and local restaurants and bars. Residents ?ock to Prineville for the scenic views at Ochoco Wayside State Park; this sweeping green space overlooks the city and the distant mountains. Meadow Lakes Golf Course is a popular hangout for locals. The properties are well positioned to capture the population and rental demand growth spurred by Prineville’s hyperscale data centers, solar farms, and close proximity to Bend.

Investment Highlights

  • Current Rents Trailing Market By Approximately 15%
  • Potential To Increase Operating Income By Charging For Utilities
  • Desirable Unit Mix Throughout The Portfolio
  • Well Positioned To Capture Population & Rent Growth

Exclusively Listed By

Financing By

Multifamily

Pioneer Apartments

Listing Price: $1,660,000

Cap Rate
5.05%
Number of Units
15
Occupancy
100.0%
Price/Unit
$110,667
Price/Gross SF
$195.55
Gross SF
8,489

Investment Highlights

  • Current Rents Trailing Market By Approximately 15%
  • Potential To Increase Operating Income By Charging For Utilities
  • Desirable Unit Mix Throughout The Portfolio
  • Well Positioned To Capture Population & Rent Growth

Investment Overview

The Pioneer Apartments is a 15-unit, two-story, garden style property located at 416 NE 10th St, Prineville, OR 97754. The property was originally constructed in 1982 and features fourteen (14) one-bedroom/one-bathroom units and one (1) studio unit. Amenities include off-street parking and shared laundry room. The property is privately managed by an on-site manager. Recent capital expenditures include all new exterior paint, new siding on the South-facing side of the complex, and new decks. 50% of the interiors have been updated with new LVP flooring, cabinets, counters, appliances, bath tubs, sinks, and fixtures. Located near Downtown Prineville, residents are within walking distance from many of the amenities that Prineville offers. Prineville is home to state parks, golf courses, and local restaurants and bars. Residents ?ock to Prineville for the scenic views at Ochoco Wayside State Park; this sweeping green space overlooks the city and the distant mountains. Meadow Lakes Golf Course is a popular hangout for locals. The properties are well positioned to capture the population and rental demand growth spurred by Prineville’s hyperscale data centers, solar farms, and close proximity to Bend.

Exclusively Listed By

Financing By

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