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1506 NW Awbrey Rd
Bend, OR 97703
2 Unit Income Generating Opp in River West · Multifamily Property For Sale
·
2 Units


Investment Highlights
- Two transferable short term rental permits, creating a rare opportunity to acquire an established Bend STR investment
- Proven short term rental operation with years of rental history
- Approximately 0.3 mile to Drake Park with Downtown Bend restaurants, breweries, shopping, and entertainment nearby
- Main residence features 3 bedrooms and 2.5 bathrooms, complemented by a separately accessed 1 bedroom, 1 bathroom permitted ADU
- Exceptional River West location on the cusp of Old Bend, just steps from the Deschutes River and approximately 0.08 mile to Brooks Park
- Flexible investment profile suitable for short term rental operation, owner occupancy with supplemental ADU income, or a Bend vacation residence
Executive Summary
On the cusp of Old Bend in River West, you’ll find this stunning retreat surrounded by some of Bend’s most vibrant restaurants, brewpubs, shops, parks, and recreation. Tucked into one of the city’s most picturesque settings just steps from the iconic Deschutes River and Brooks Park, only ~0.08 mile away, the location pairs historic Bend charm with seemingly endless amenities within easy reach. Set on a corner lot, this immaculate newer construction property offers a spacious and thoughtful floor plan with 3 bedrooms, 2.1 bathrooms, plus a fully permitted ADU above the oversized detached 2 car garage. The main residence features a beautifully appointed kitchen with upgraded gas appliances, a large island with eat bar, detailed tile backsplash, and abundant cabinetry. The dining room is filled with natural light and opens to the enclosed patio, while the inviting living room is anchored by a cozy gas fireplace flanked by built ins. Upstairs, all 3 bedrooms feature vaulted ceilings, including the primary suite with a walk in closet and ensuite bathroom with dual sink vanity and walk in shower. The ADU has its own private entrance and offers additional living or rental potential with a well appointed kitchen, stainless steel appliances, detailed tilework, a light filled living room opening to a private balcony, and a bright bedroom retreat. Outside, the fenced courtyard is ready for gathering and relaxation with a gas fire pit, BBQ hookup, hot tub, and outdoor dining space. Downtown Bend, Drake Park at ~0.3 mile, and an array of shops and eateries are all close by. Adding phenomenal flexibility and value, the property includes TWO transferable short term rental permits and offers the opportunity to acquire a fully stabilized short term rental business with years of proven success. Furnishings and appliances may also be included, creating the potential for a truly turnkey Bend oasis, investment property, or both.
Property Facts
| Price Per Unit | $1,173,331 CAD | Apartment Style | Single-Family Home |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.38% | Building Size | 2,376 SF |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2012 |
| Zoning | RM | ||
| Price Per Unit | $1,173,331 CAD |
| Sale Type | Investment |
| Cap Rate | 6.38% |
| No. Units | 2 |
| Property Type | Multifamily |
| Apartment Style | Single-Family Home |
| Lot Size | 0.12 AC |
| Building Size | 2,376 SF |
| No. Stories | 2 |
| Year Built | 2012 |
| Zoning | RM |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Fireplace
- Microwave
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Ice Maker
- Refrigerator
- Stainless Steel Appliances
- Range
- Carpet
- Yard
- Breakfast Nook
- Deck
- Dining Room
- Double Pane Windows
- Freezer
- Island Kitchen
- Lawn
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 1 | $11,843 CAD | 1,848 |
| 1+1 | 1 | $3,524 CAD | 550 |
Property Taxes
| Parcel Number | 268034 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $662,015 CAD |
Property Taxes
Parcel Number
268034
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$662,015 CAD
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