Spring Pines Apartments

Investment Overview

The Spring Pines Apartments comprise of 42-units located at 1280–1330 NE Purcell Blvd in Northeast Bend, Oregon. The site is 1.98 acres and consists of six two-story garden-style apartment buildings constructed in 1993 with a total of 72 parking spaces, including covered spaces. The community offers a uniform unit mix of 2BD/1BA flats averaging approximately 888 square feet, providing an efficient and highly rentable layout within one of Bend’s established residential submarkets. The property has been well maintained through long-term ownership and ongoing interior improvements. The property’s combination of stable occupancy, functional layouts, and operational upside presents investors with a rare opportunity to acquire a well-located Bend apartment community at pricing below estimated replacement cost. Spring Pines benefits from strong accessibility to major employment centers, healthcare services, and retail amenities, Downtown Bend and recreational destinations. The property’s scale, physical condition, and in-place operations position it as an attractive value-add investment opportunity with both near-term operational upside and long-term appreciation potential.

Investment Highlights

• Value-add opportunity
• Rents average $0.25/SF below market
• No current charges for utilities
• Priced below replacement cost
• 100% occupied
• On-site laundry and management office
• Well-maintained
• Excellent NE Bend location
• Proximity to St. Charles medical campus