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Multifamily

Elm Apartments

955 NE Elm St, Prineville, OR 97754

Listing Price: $1,120,000

Cap Rate
5.57%
Number of Units
7
Occupancy
100.0%
Price/Unit
$160,000
Price/Gross SF
$190.48
Gross SF
5,880

Investment Overview

The Elm Apartments is a seven-unit, two-story property located at 955 NE Elm St, Prineville, OR 97754. The property was originally constructed in 1979 and features six (6) desirable two-bedroom/one-and-a-half-bathroom townhome units and one (1) studio unit. Each townhome unit has it's own washer/dryer hookup and parking space. Recent capital expenditures include all new siding, exterior paint, and fenced back patios. All units have been updated with new LVT 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 flock 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 property is 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

Elm Apartments

Listing Price: $1,120,000

Cap Rate
5.57%
Number of Units
7
Occupancy
100.0%
Price/Unit
$160,000
Price/Gross SF
$190.48
Gross SF
5,880

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 Elm Apartments is a seven-unit, two-story property located at 955 NE Elm St, Prineville, OR 97754. The property was originally constructed in 1979 and features six (6) desirable two-bedroom/one-and-a-half-bathroom townhome units and one (1) studio unit. Each townhome unit has it's own washer/dryer hookup and parking space. Recent capital expenditures include all new siding, exterior paint, and fenced back patios. All units have been updated with new LVT 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 flock 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 property is 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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