Buff View Terrace 165 SE Buff St 12 Unit Apartment Building $1,587,805 CAD ($132,317 CAD/Unit) 6.44% Cap Rate Madras, OR 97741

Buff View Terrace offers a compelling multifamily investment in Madras, the county seat of Jefferson County. Strategically positioned atop a hill, the property provides an elevated ambiance with peek-aboo views of the surrounding mountains. Situated in a primarily quiet residential neighborhood, the complex remains just blocks from the town’s main road, providing convenient access to shopping, dining, employment centers, and essential services.
The property consists of 12 well-maintained units, with an even mix of 6 one-bedroom/one-bath and 6 two-bedroom/one-bath units. This diverse unit mix appeals to a broad tenant base, from single professionals utilizing extra space for home offices to growing families, supporting consistent occupancy and long-term demand. Units feature modernized floor plans, luxury vinyl plank (LVP) flooring, updated cadet heating, window-mounted air conditioning, and designated off-street parking. Durable cinder block construction, private unit entry, and on-site security cameras further enhance safety and comfort.
Over the past five years, ownership has completed a comprehensive capital improvement program, including new signage, repaved parking, a replaced main sewer line, updated electrical panels, and interior renovations upon turnover. With current rents approximately 20% below market within a one-mile radius, Buff View Terrace presents meaningful upside potential. A new owner can benefit from stable cash flow while realizing additional income through continued upgrades, rent optimization, and operational efficiencies, making this a well-located asset with both stability and long-term growth potential in Central Oregon’s expanding market.