1441 NW 4th Street, Redmond, OR 97756
$6,050,000
Property Type:
Residential Income
Square Footage:
18,862
Lot Size (sq. ft.):
30,056
Status:
Active
Current Price:
$6,050,000
List Date:
1/08/2026
Last Modified:
3/27/2026
Description
Red Cedar Apartments -- offered at a 5.3% cap rate -- is a newly built, FULLY LEASED, 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.
Supplements: ********
More Information MLS# 220213493
Location, Tax, and Legal
Parcel Number: 122333
Tax Map Number: 151309AA
Tax Lot: 1001, 1003, 601, 600
Lot Size Acres: 0.69
Lot Size Square Feet: 30056
Additional Parcels YN: Yes
Additional Parcels Description: 122318, 285978, 285979
Contract Information
List Price per SqFt: 320.75
Current Price: $6,050,000
Status: Active
Original List Price: 6300000
List Price: $6,050,000
Listing Contract Date: 2026-01-08
General Property Information
Building Area Total: 18862
Building Area Source: Assessor
Building Area Units: Square Feet
# of Units Total: 20
Short Term Rental Permit YN: No
New Construction YN: No
Builder Name: Timbergon Inc
Elementary School: John Tuck Elem
Middle Or Junior School: Elton Gregory Middle
High School: Redmond High
Zoning: C1
Tax Annual Amount: 53547
Tax Year: 2025
Potential Tax Liability YN: No
Assessment YN: No
CC&R's YN: No
Association YN: No
Preferred Escrow Company & Officer: Deschutes County Title - Cassie Ringgenberg
FIRPTA YN: No
Sign On Property YN: No
Property Sub Type: Multi Family
Year Built: 2023
Remarks and Miscellaneous
Public Remarks: Red Cedar Apartments -- offered at a 5.3% cap rate -- is a newly built, FULLY LEASED, 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.
Appliances
Dishwasher: 1
Dryer: 1
Microwave: 1
Oven: 1
Range: 1
Refrigerator: 1
Washer: 1
Water Heater: 1
Architectural Style
Contemporary: 1
Income and Expenses (Annual Amounts)
Net Operating Income: 318798
Gross Income: 450600
Professional Management Expense $: 32105
Number of Units Leased: 20
Operating Expense: 131802
Cap Rate: 5
Common Walls
1 Common Wall: 1
2+ Common Walls: 1
Cooling
Ductless: 1
Heat Pump: 1
Construction Materials
Frame: 1
Flooring
Vinyl: 1
Listing Terms
Cash: 1
Conventional: 1
Foundation Details
Stemwall: 1
Heating
Ductless: 1
Heat Pump: 1
Interior Features
Ceiling Fan(s): 1
Fiberglass Stall Shower: 1
Kitchen Island: 1
Open Floorplan: 1
Shower/Tub Combo: 1
Solid Surface Counters: 1
Vaulted Ceiling(s): 1
Levels
Three Or More: 1
Multi/Split: 1
Lot Features
Xeriscape Landscape: 1
Roof
Composition: 1
Security Features
Carbon Monoxide Detector(s): 1
Smoke Detector(s): 1
Unit 1
Unit #: 1441A
# of Bedrooms: 2
Square Footage: 1348
# Full Baths: 2
Monthly Rent: 2350
# Half Baths: 1
Status: Leased
Unit 2
Unit #: 1441S
Square Footage: 482
# Full Baths: 1
Monthly Rent: 1400
Status: Leased
Unit 3
Unit #: 1443A
# of Bedrooms: 2
Square Footage: 1566
# Full Baths: 2
Monthly Rent: 2500
# Half Baths: 1
Status: Leased
Window Features
Double Pane Windows: 1
Unit 4
Unit #: 1443S
Square Footage: 648
# Full Baths: 1
Monthly Rent: 1525
Status: Leased
Unit 5 or More
Unit List Attached: Yes
Parking Features
Asphalt: 1
Attached: 1
Garage Door Opener: 1
Parking Lot: 1
Shared Driveway: 1
Power Production
None: 1
Sewer
Public Sewer: 1
Utilities
Cable Connected: 1
Electricity Connected: 1
Water Source
Public: 1
Parking Details
# of Garages: 10
# of Other Parking: 14
Documents on File
APOD: 1
Maintenance Records: 1
Profit and Loss Statement: 1
Rental Agreement: 1
Schedule of Tenants: 1
Seller Disclosure: 1
Special Listing Conditions
Standard: 1
Location Tax and Legal
Street Number: 1441
Street Dir Prefix: NW
Street Name: 4th
Street Suffix: Street
County: Deschutes
State: OR
Postal Code: 97756
Subdivision Name: N/A
Status Change Information
Status Change Timestamp: 2026-01-08
Property Features
Appliances: Dishwasher; Dryer; Microwave; Oven; Range; Refrigerator; Washer; Water Heater
Architectural Style: Contemporary
Common Walls: 1 Common Wall; 2+ Common Walls
Construction Materials: Frame
Cooling: Ductless; Heat Pump
Flooring: Vinyl
Foundation Details: Stemwall
Heating: Ductless; Heat Pump
Interior Features: Ceiling Fan(s); Fiberglass Stall Shower; Kitchen Island; Open Floorplan; Shower/Tub Combo; Solid Surface Counters; Vaulted Ceiling(s)
Levels: Three Or More; Multi/Split
Roof: Composition
Security Features: Carbon Monoxide Detector(s); Smoke Detector(s)
Window Features: Double Pane Windows
Utilities: Cable Connected; Electricity Connected
Lot Features: Xeriscape Landscape
Parking Features: Asphalt; Attached; Garage Door Opener; Parking Lot; Shared Driveway
Power Production: None
Sewer: Public Sewer
Water Source: Public
Documents on File: APOD; Maintenance Records; Profit and Loss Statement; Rental Agreement; Schedule of Tenants; Seller Disclosure
Listing Terms: Cash; Conventional
Special Listing Conditions: Standard
Documents
Offering ›
Listing Office:
Cascade Hasson SIR
Last Updated: March - 27 - 2026
Information deemed reliable but not guaranteed.