Listed by: Richard Allen · Willow Canyon Group
- — beds
- 0 baths
- — sqft
1535 SW Highway 97, Madras, OR 97741
- Multi FamilyHome type
- Built in 1950Year built
- 1.45 acresLot
- NoneHOA
About this home
Fantastic Central Oregon Investment Property - Fifteen (15) Units, fully leased, professionally managed apartment complex. Don't miss this rare opportunity to purchase rental property in Madras, OR. These properties offer strong rental history & immediate cash flow opportunity. Each unit is 2 bedroom / 1 bath with mini split HVAC, washer/dryer hookups (some units provided). Walking distance to shopping, restaurants and bus service to Bend/Redmond. Excellent potential for investors looking to expand their portfolio with reliable income producing properties in a mature market at a affordable purchase price.
Facts & features
Interior
- Bathrooms
- 0
- Levels
- One
Features
- Laminate Counters
- Linen Closet
- Open Floorplan
- Shower/Tub Combo
Appliances
- Dishwasher
- Dryer
- Oven
- Range
- Range Hood
- Refrigerator
- Washer
- Water Heater
Heating & cooling
- Baseboard
- Wall Furnace
- Other
- Ductless
- Other
Flooring
- Carpet
- Vinyl
Property
- Lot size
- 1.45 acres
- Subdivision
- Manathiela
Parking
- Asphalt
- Driveway
- On Street
Construction
- Home type
- Multi Family
- Property type
- Residential Income
- Year built
- 1950
Materials
- Block
- Frame
- Composition roof
Utilities
Sewer & water
- Public Sewer
- Public water
Community & HOA
- Subdivision
- Manathiela
- HOA dues
- None
- County
- Jefferson
Financial & listing details
- List price
- $1,555,000
- Annual property tax
- $14,442
- Date on market
- Aug 31, 2026
- Days on market
- 33
- MLS#
- 220227963
Price & status history
| Date | Event | Price |
|---|---|---|
| Aug 31, 2026 | Listed for sale | $1,555,000 |
Neighborhood
- SubdivisionManathiela
- CityMadras, OR 97741
- CountyJefferson
Payment calculator
Estimated monthly payment
$9,390/mo
- Principal & interest$7,863
- Property taxes$1,203
- Homeowners insurance$324
- HOA dues$0
Loan amount $1,244,000 · 30-year fixed at 6.5%
An estimate for planning, not a loan offer. The 6.5% rate is an example; ask a lender for today’s rate. Taxes use the listing’s annual tax amount. Insurance is estimated; mortgage insurance is not included.
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Listing provided by Willow Canyon Group · Listing agent: Richard Allen
- Source
- MLS of Central Oregon
- MLS#
- 220227963
- Last updated
- Aug 31, 2026 at 12:26 PM
Listing information is deemed reliable but not guaranteed and should be independently verified. Listings shown are for demonstration while our MLS of Central Oregon IDX feed is being set up.