51376 Preble Way, La Pine, OR 97739
- $4,600,000
Listing courtesy of NAI Cascade.
- List Price
- $4,600,000
- MLS#
- 220231002
- Status
- ACTIVE
- City
- La Pine
- County
- Deschutes
- Year Built
- 2024
Property Description
See attachment for more information including APOD. The Preble Way Apartments were recently delivered in 2024 and represent one of only a few apartment communities serving the growing La Pine, Oregon market. The subject property is situated on a 0.83 acre flag lot in a quiet neighborhood setting adjacent to Finley Butte Road in La Pine, Oregon. This attractive location is in close proximity to La Pine's city core. The apartments are comprised of 24 - total units. All units are spacious 2BD/2BA single-level style units at approximately 851 square feet each. The Preble Way Apartments represent a one-of-a-kind multifamily project in one of the fastest growing, developer-friendly new markets in central Oregon. Seller willing to guarantee rent at 90% occupancy for one year. Current average rents at Preble Way are approximately $1.80/SF, just under the average for immediate location rental comparables of $1.93/SF. Current capitalization rate based on asking price yields 6.64%.
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Additional Information
- Taxes
- $36,627
- Acres
- 0.83
- Water
- Public
- Heating
- Forced Air, Wall Furnace
- Foundation
- Slab
- Flooring
- Vinyl
- Elementary School
- Lapine Elem
- Middle School
- Lapine Middle
- High School
- Lapine Sr High
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The data relating to real estate for sale on this web site comes in part from the Internet Data Display (IDX) of the Southern Oregon Multiple Listing Service. Real estate listings held by brokerage firms other than our company are marked with the IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information subject to change and should be independently verified. Last updated: