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Red Cedar Apartments 1441-1461 NW 4th St 20 Unit Apartment Building $8,160,600 CAD ($408,030 CAD/Unit) 5.50% 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 5.5% 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 |
$633,994
|
$33.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$31,446
|
$1.67
|
| Effective Gross Income |
$602,548
|
$31.95
|
| Taxes |
$75,341
|
$3.99
|
| Operating Expenses |
$78,658
|
$4.17
|
| Total Expenses |
$153,999
|
$8.16
|
| Net Operating Income |
$448,549
|
$23.78
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $633,994 |
| Annual Per SF | $33.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $31,446 |
| Annual Per SF | $1.67 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $602,548 |
| Annual Per SF | $31.95 |
| Taxes (CAD) | |
|---|---|
| Annual | $75,341 |
| Annual Per SF | $3.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $78,658 |
| Annual Per SF | $4.17 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $153,999 |
| Annual Per SF | $8.16 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $448,549 |
| Annual Per SF | $23.78 |
Property Facts
| Price | $8,160,600 CAD | Building Class | B |
| Price Per Unit | $408,030 CAD | Lot Size | 0.70 AC |
| Sale Type | Investment | Building Size | 18,862 SF |
| Cap Rate | 5.50% | 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 | $8,160,600 CAD |
| Price Per Unit | $408,030 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| 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 | $3,415 CAD | 1,348 - 1,566 |
| Studios | 10 | $1,987 CAD | 482 - 648 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $3,695,246 CAD | |
| Land Assessment | $0 CAD | Annual Taxes | $75,341 CAD ($3.99 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,695,246 CAD
Annual Taxes
$75,341 CAD ($3.99 CAD/SF)
Tax Year
2025
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Red Cedar Apartments | 1441-1461 NW 4th St
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