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Multifamily

Norton Avenue Apartments

414 NE Norton Ave, Bend, OR 97701

Listing Price: $2,050,000

Cap Rate
5.13%
Number of Units
8
GRM
11.86
Occupancy
95.0%
Price/Unit
$256,250
Price/Gross SF
$269.74
Gross SF
7,600

Investment Overview

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.

Investment 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

Exclusively Listed By

Multifamily

Norton Avenue Apartments

Listing Price: $2,050,000

Cap Rate
5.13%
Number of Units
8
GRM
11.86
Occupancy
95.0%
Price/Unit
$256,250
Price/Gross SF
$269.74
Gross SF
7,600

Investment 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

Investment Overview

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.

Exclusively Listed By

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