51395 Preble WayLa Pine, OR 97739

Property Details for 51395 Preble Way

Year built

2021

Lot size

1.44 AC

Property size (Sq ft)

13,860 SF

Property type

Residential income homes

Description

This exceptional 14-unit multifamily investment property, located at 51395 Preble Way in La Pine, Oregon (97739), presents a compelling opportunity. Built in 2021, the property comprises fourteen three-bedroom, two-bathroom permanently affixed manufactured homes, totaling 13,860 square feet on a 1.44-acre lot. Each unit offers approximately 990 square feet of living space. The property boasts a strong current NOI of $235,796, translating to a 6.21% cap rate and a price per unit of $271,428.57. The asking price for this turnkey investment is $3,800,000, or $274.17 per square foot. Situated in Deschutes County, within close proximity to Sunriver and Bend, this development benefits from the area's thriving tourism and outdoor recreation industries. Rental rates are projected to increase in the near future, further enhancing the property's already attractive return. The property is zoned CRMX and features a single-story building configuration. This is a 1031 exchange eligible property, offering significant tax advantages for qualified investors. The property's strong performance and prime location make it an ideal addition to any investment portfolio. The APN is 115024. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a rapidly growing market.

Location Insight

City

La Pine

County

Deschutes

State

Oregon

Latitude

43.6674

Longitude

-121.504

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