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Studio Gardens Apartments 1000 NE Butler Market Rd

22 Unit Block of Flats £3,807,125 (£173,051/Unit) 5.62% Net Initial Yield Bend, OR 97701

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Investment Highlights

22 units spread across 3 buildings
Over one acre of developable land
Excellent location in the heart of Bend

Excellent occupancy and rental history
Value-add opportunity with vast upside potential
Consistent monthly cash flow

Executive Summary

Total Sale Price: $4,750,000
Existing Units: $4,000,000 (5.62% Cap Rate) | Developable RM Land: $750,000 (1+AC)
First Time Offered
Studio Gardens Apartments: a perfect blend of charm, stability, and potential, and a landmark community in the heart of Bend. On the market for the first time since its inception in the 1970s, this family-developed, impeccably managed, and well-maintained property is ready for its next chapter. This is an opportunity to own a legacy asset with unparalleled potential in one of Oregon’s most desirable markets.
Nestled on 2.82 acres of picturesque, wooded grounds with a seasonal canal, this property features 22 well-designed units across three two-story buildings: 10 one-bedroom, one-bath apartments and 12 two-bedroom, one-bath apartments. Tenants enjoy two laundry rooms and 22 storage units. Exceptional management has ensured consistent full occupancy. With over an acre of developable land zoned RM for multifamily housing, there’s immense potential for expansion and increased returns. This well-maintained, high-demand property offers the opportunity to own a prime asset in one of Oregon’s most sought-after locations.

Studio Gardens OM

Property Facts

Price	£3,807,125	Lot Size	2.82 AC
Price Per Unit	£173,051	Building Size	18,304 SF
Sale Type	Investment	Average Occupancy	100%
Net Initial Yield	5.62%	Number of Floors	2
No. Units	22	Year Built	1971
Property Type	Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment

Price	£3,807,125
Price Per Unit	£173,051
Sale Type	Investment
Net Initial Yield	5.62%
No. Units	22
Property Type	Residential
Property Subtype	Apartment
Lot Size	2.82 AC
Building Size	18,304 SF
Average Occupancy	100%
Number of Floors	2
Year Built	1971
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.