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Red Cedar Apartments 1441-1461 NW 4th St 20 Unit Apartment Building $8,270,653 CAD ($413,533 CAD/Unit) 5.27% Cap Rate Redmond, OR 97756
Investment Highlights
- Located conveniently in the heart of North Redmond between Walmart and St Charles Hospital
- Walking access to retailers, daycare, healthcare, food service and more. Studio apartment and two car garage on 1st floor, 2nd/3rd flr townhome
Executive Summary
Red Cedar Apartments — offered at a 5.3% cap rate — is a newly built, 20-door multifamily asset in North Redmond designed for low-maintenance, ''set-it-and-forget-it'' ownership. The community features four buildings on four separate tax lots, allowing optional future sale of buildings individually. Two of the buildings each include 2 apartments + 2 studios, and two of the buildings each include 3 apartments + 3 studios, for a total of 20 rentable units. Townhome-style residences are paired with ground-level studios, appealing to multiple renter profiles. Fully leased and professionally managed, the property delivers consistent cash flow with tenants paying all utilities, lowering owner expenses. A modern, clean, new-construction investment offering durable income and flexibility.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$615,993
|
$32.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$30,554
|
$1.62
|
| Effective Gross Income |
$585,439
|
$31.04
|
| Taxes |
$73,201
|
$3.88
|
| Operating Expenses |
$76,425
|
$4.05
|
| Total Expenses |
$149,626
|
$7.93
|
| Net Operating Income |
$435,813
|
$23.11
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $615,993 |
| Annual Per SF | $32.66 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $30,554 |
| Annual Per SF | $1.62 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $585,439 |
| Annual Per SF | $31.04 |
| Taxes (CAD) | |
|---|---|
| Annual | $73,201 |
| Annual Per SF | $3.88 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $76,425 |
| Annual Per SF | $4.05 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $149,626 |
| Annual Per SF | $7.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $435,813 |
| Annual Per SF | $23.11 |
Property Facts
| Price | $8,270,653 CAD | Building Class | B |
| Price Per Unit | $413,533 CAD | Lot Size | 0.70 AC |
| Sale Type | Investment | Building Size | 18,862 SF |
| Cap Rate | 5.27% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | C1 | ||
| Price | $8,270,653 CAD |
| Price Per Unit | $413,533 CAD |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.70 AC |
| Building Size | 18,862 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | C1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 10 | $3,319 CAD | 1,348 - 1,566 |
| Studios | 10 | $1,931 CAD | 482 - 648 |
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Property Taxes
| Parcel Numbers | Total Assessment | $3,586,595 CAD | |
| Land Assessment | $0 CAD | Annual Taxes | $73,201 CAD ($3.88 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,586,595 CAD
Annual Taxes
$73,201 CAD ($3.88 CAD/SF)
Tax Year
2025
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Red Cedar Apartments | 1441-1461 NW 4th St
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