for sale: duplex portfolio prineville prineville, oregon ... · unit 5 $1,190 $14,280 unit 6 $1,190...
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541.383.2444
Joel Thomas, Broker [email protected]
Kerri Standerwick, Broker [email protected]
Pat Kesgard, CCIM [email protected]
Brokers are licensed in the state of Oregon. This information has been furnished from sources we deem reliable, but for which we assume no liability. This is an exclusive listing. The information contained herein is given in confidence with the understanding that all negotiations pertaining to this property be handled through Compass Commercial Real Estate Services. All measurements are approximate.
FOR SALE: Duplex Portfolio Prineville, Oregon Prineville Duplex Portfolio6 Units | 0.61 Acres | $1,100,000
FOR SALE851, 853, 885 & 887 W 2nd St., 205 & 207 Meadow Lakes Dr.,
Prineville, Oregon
Pat Kesgard, CCIM | Kerri Standerwick, Broker Joel Thomas, Broker600 SW Columbia St., Ste. 6100 | Bend, OR 97702541.383.2444 | www.compasscommercial.com
BRAND NEW CONSTRUCTION
INCOMEGross Scheduled Income $85,680.00Vacancy $4,284.00 5%Gross Operating Income $81,396.00
EXPENSESTaxes $9,767.52 12.0%Insurance $1,627.92 2.0%Management $4,883.76 6.0%Utilities $1,627.92 2.0%Maintenance and Repairs $5,697.72 7.0%Replacement Reserves $1,627.92 2.0%Total $25,232.76 31.0%
Net Operating Income 56,163.24$ Cap Rate 5.11%
This is a broker pro forma, the statements and figures herein, while not guaranteed, are secured from sources we believe authoritative. Buyers are
advised to review actual property financial history (during due diligence) and make their own judgments and determination as to future and past financial
performance of this property.
Unit Monthy Rent Annual RentUnit 1 $1,190 $14,280Unit 2 $1,190 $14,280Unit 3 $1,190 $14,280Unit 4 $1,190 $14,280Unit 5 $1,190 $14,280Unit 6 $1,190 $14,280Total $7,140 $85,680
Sale Price: $1,100,000Property Details
Bldg. Size: 3 duplexes totaling 6,912 SF
Unit Size: 6 units — 1,152 SF each
Lot Size: 0.61 acres
Year Built: 2017
Zoning: General Residential
Cap Rate: 5.11%
Highlights�� Brand new construction
�� Each unit features two bedrooms, two full baths plus a den; air conditioning; attached two-car garages with openers
�� Each unit will rent for $1,190
�� Landscaped yards with automatic sprinklers
�� Each unit is separately metered for water and electricity
Property DescriptionDon’t miss out on this great multifamily commercial investment opportunity! This portfolio of three duplexes are being sold as a package. Centrally located in Prineville, Oregon, they are directly across the street from the Crook County Library and near parks, the Crooked River, various shops, grocers and eateries. Each unit is separately metered for all utilities, including water. They are located on three separate tax lots, so a buyer could eventually sell off each duplex individually. New landscaping was just added with automatic sprinkler systems. As these are brand new construction, there isn’t any deferred maintenance.
The units, completed in July of 2017, are very spacious with each featuring two bedrooms, two full baths, plus a den/office. Each kitchen has a dishwasher and a garbage disposal and all of the units have air conditioning and a two-car garage with an automatic opener. Prineville, like much of central Oregon, has a residential vacancy rate of around 1%. Located approximately 35 miles northeast of Bend, Prineville has positioned itself as an outdoor recreational hub with easy access to two pristine reservoirs, miles of single track mountain biking, camping, hiking, hunting and fishing. The Crook County seat, Prineville, is the home to new Facebook and Apple data centers and has a population of roughly 10,000.
Rent Roll
Annual Property Operating Data
Prineville Duplex Portfolio FOR SALE851, 853, 885 & 887 W 2nd St., 205 & 207 Meadow Lakes Dr.,
Prineville, Oregon