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2531 NW Cedar Ave, Redmond, OR 97756

$1,149,000
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Property Description

Are you looking to add to your property portfolio, this is it! A truly fabulous fourplex that has been well maintained throughout. It's located in a quiet neighborhood surrounded by sidewalks and well cared for homes. This property sits on an ideal corner lot. All units are townhome style with an open concept floorplan. They come with full kitchen appliances, washers and dryers. Many updates have already been made throughout and vary per unit. Some highlights include newer appliances, luxury vinyl plank flooring, carpet, interior paint, blinds, baseboards, hardware and plumbing fixtures. Units 1 & 4 are comfortable at approximately 1,100sf with 2 bedrooms and 2.5 baths, while units 2 & 3 are a little more spacious at approximately 1,200sf with 3 bedrooms and 2.5 baths. Location is superb, close to schools, parks and trails. Shopping and dining are less than 1.5 miles away, making it convenient while keeping home life peaceful for tenants. The numbers don't lie. With a healthy and balanced projected cap rate of 6.18% this property would be a welcomed addition to any portfolio. The HOA has continued to be well managed by the same management company for the past 15 years. What this means for you is consistency and less worry. Units 1-3 are currently leased. Please do not disturb the tenants. Unit 4 can be shown by appointment only. Photos of units 1-3 were taken prior to tenant move in.

2531 NW Cedar Ave | MLS# 286696634

This multi-family property located at 2531 NW Cedar Ave, Redmond, OR 97756 is currently listed for sale with an asking price of $1,149,000. Search Redmond real estate on www.bendpremierrealestate.com today.

Property Features

Property Type: Multi Unit - Multiple
Basement: CrawlSpace
Fuel Type: Electricity
Heating: WallHeater
Roof Type: Composition
Stories: 2.0
Taxes: $9,144
Year Built: 2002
Square Feet: 4,848

Units

Unit Type 1:
Bathroom(s): 3
Bedrooms: 2
Features: Dishwasher, Range, Refrigerator, WasherDryer
Rent: $2000.00
Square Footage: 1100
Total Units: 1
Unit Type 2:
Bathroom(s): 3
Bedrooms: 3
Features: Dishwasher, Range, Refrigerator, WasherDryer
Rent: $2100.00
Square Footage: 1200
Total Units: 2
Unit Type 3:
Bathroom(s): 3
Bedrooms: 3
Features: Dishwasher, Range, Refrigerator, WasherDryer
Rent: $2100.00
Square Footage: 1200
Total Units: 3
Unit Type 4:
Bathroom(s): 3
Bedrooms: 2
Features: Dishwasher, Range, Refrigerator, WasherDryer
Rent: $2000.00
Square Footage: 1100
Total Units: 4

Feature Descriptions

Days on Site: 104
Exterior: Board & Batten Siding, Cement Siding, Lap Sidi
Gross Income: $74400.00 (Actual)
Hot Water: Electricity
Lot: Corner Lot, Level
Net Income: $74148.00 (Actual)
Operating Expenses: $24252.00 (Actual)
Parking: Driveway, Garage
Parking Notes: Driveway, Garage
Sewer: Public Sewer
Storage: Garage
Units: 10
Water: Public Water

Local Schools

High School: Redmond
Middle School: Elton Gregory
Elementary School: Hugh Hartman

Listed By / Shown By

Listed By

Agency Name: Keller Williams PDX Central
Agency Phone: 503-548-4848

Shown By

Agency Title: Bend Premier Real Estate
Agency Phone: 541-323-2779

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Estimate Your Payment

Estimated Payment

$ 6,907.09 per month $5,809.97 Principal & Interest $762.00 Property Tax $335.13 Homeowner's Insurance

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