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2320 NW Lakeside Pl
Bend, OR 97703
Lakeside Place · Multifamily Property For Sale
·
81 Units
Investment Highlights
- Full renovation 2024/25
- Excellent unit and site amenities
- Original lease-up generated waitlist of over 150 prospective renters
- Extremely high demand property
- Walking distance to downtown and Deschutes River
- All units studios with high-end finishes
Executive Summary
Second Reduction - Bring all reasonable offers
The Lakeside Place Apartments represent one of Bend’s most recent, exciting, and iconic multifamily reposition projects. Located in northwest Bend, the highly amenitized Lakeside Place has quietly commanded extreme demand in the recently over-supplied Central Oregon multifamily market. In addition, current management has successfully stabilized operations without the need for concessions or negative adjustments to asking rents, common for competing projects during the recent surge in supply. The unique unit-mix of 81 high-end studios has satisfied an extremely obvious demand for a more affordable market-rate unit that’s competitively and efficiently appointed.
Full renovation of all five (5) buildings (A, B, C, D, E), all interiors, parking and sitework was completed in phases with the final occupancy permit finaled early this year (building B). All above and below ground systems and components of the entire site have been completely replaced. Lakeside Place is currently 97% occupied as of March 2025. Two units in the most recently opened B building are offline, one for further renovation and the other for expansion to accommodate an on-site manager (estimated completion August 2025). NOTE: There are three (3) internal rooms (not part of the 81-units ) that do not have proper egress for occupancy but could be utilized for storage, library, game room or business center.
Lakeside Place is situated on 2.61 acres and located one mile north of downtown Bend, one mile south of the Highway 20 commercial corridor, two miles south of the Golden Triangle and walking distance to the Deschutes River. The immediate location is primarily residential with well-established, new, or higher-end homes along the rim of the Deschutes River. Also within the immediate location are a small assortment of boutique commercial, office and retail spaces. Most notable would be the Boneyard Pub located just one quarter mile to the south of the subject property.
See OM for additional information on operations and recent renovation.
The Lakeside Place Apartments represent one of Bend’s most recent, exciting, and iconic multifamily reposition projects. Located in northwest Bend, the highly amenitized Lakeside Place has quietly commanded extreme demand in the recently over-supplied Central Oregon multifamily market. In addition, current management has successfully stabilized operations without the need for concessions or negative adjustments to asking rents, common for competing projects during the recent surge in supply. The unique unit-mix of 81 high-end studios has satisfied an extremely obvious demand for a more affordable market-rate unit that’s competitively and efficiently appointed.
Full renovation of all five (5) buildings (A, B, C, D, E), all interiors, parking and sitework was completed in phases with the final occupancy permit finaled early this year (building B). All above and below ground systems and components of the entire site have been completely replaced. Lakeside Place is currently 97% occupied as of March 2025. Two units in the most recently opened B building are offline, one for further renovation and the other for expansion to accommodate an on-site manager (estimated completion August 2025). NOTE: There are three (3) internal rooms (not part of the 81-units ) that do not have proper egress for occupancy but could be utilized for storage, library, game room or business center.
Lakeside Place is situated on 2.61 acres and located one mile north of downtown Bend, one mile south of the Highway 20 commercial corridor, two miles south of the Golden Triangle and walking distance to the Deschutes River. The immediate location is primarily residential with well-established, new, or higher-end homes along the rim of the Deschutes River. Also within the immediate location are a small assortment of boutique commercial, office and retail spaces. Most notable would be the Boneyard Pub located just one quarter mile to the south of the subject property.
See OM for additional information on operations and recent renovation.
Property Facts Under Contract
| Price Per Unit | $216,397 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.06 AC |
| Cap Rate | 6.05% | Building Size | 40,500 SF |
| Gross Rent Multiplier | 10.35 | Average Occupancy | 98% |
| No. Units | 81 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1981 |
| Property Subtype | Apartment | Parking Ratio | 2.66/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | GI | ||
| Price Per Unit | $216,397 CAD |
| Sale Type | Investment |
| Cap Rate | 6.05% |
| Gross Rent Multiplier | 10.35 |
| No. Units | 81 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.06 AC |
| Building Size | 40,500 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 2.66/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | GI |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 81 | - | 299 - 654 |
Property Taxes
| Parcel Number | 101322 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $10,573,690 CAD |
Property Taxes
Parcel Number
101322
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$10,573,690 CAD
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