$6,240,000
1/51.04 AC · Multi Family
2598 NW Spruce Cone
Redmond, OR 97756
#220223934 01 / 42
For sale Price cut $500K on Jun 25
$5,800,000
1441 NW 4th Street
Redmond, OR 97756 · N/A
- Baths
- 0
- Acres
- 0.69
- Built
- 2023
Est. $35,965/mo~34 min to downtown Bend (approx.)
Listing by Cascade Hasson SIR · 541-383-7600
MLS# 220213493 · Active
01
About this home
Red Cedar Apartments -- offered at a 5.5% 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.
02
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03
Price history
Cut $500K| Date | Event | Price |
|---|---|---|
| Jun 25, 2026 | Price cut−$500,000 (7.9%) | $5,800,000 |
| Jan 7, 2026 | Listed for sale | $6,300,000 |
From the MLS: original list price and latest price change. 272 days on market.
04
Drive times
~34 min to downtown Bend- Redmond Airport (RDM)~12 min · 3.5 mi
- Smith Rock State Park~16 min · 7.2 mi
- St. Charles Bend~31 min · 20.6 mi
- Downtown Bend~34 min · 22.7 mi
- Old Mill District~35 min · 23.8 mi
- Sisters~36 min · 24.2 mi
- Sunriver Village~54 min · 40.8 mi
- Mt. Bachelor~57 min · 43.4 mi
Approx. Straight-line distance × 1.3 for roads, at in-town and highway speeds. No traffic, snow, or Hwy 97 construction. Ask Cody about real commute times.
05
Facts & features
Built 2023- Type
- Multi Family
- Year built
- 2023
- Stories
- 3
- Lot
- 0.69 AC · 30,056 SF
- HOA
- None reported
- Taxes
- $53,547/yr
- Subdivision
- N/A
- County
- Deschutes
- Days on market
- 272
- MLS #
- 220213493
- Interior
- Ceiling Fan(s) · Kitchen Island · Open Floorplan · Solid Surface Counters · Shower/Tub Combo · Fiberglass Stall Shower · Vaulted Ceiling(s)
- Appliances
- Dishwasher · Dryer · Microwave · Oven · Range · Refrigerator · Washer · Water Heater
- Flooring
- Vinyl
- Heating
- Ductless · Heat Pump
- Cooling
- Heat Pump · Ductless
- Parking
- Asphalt · Attached · Garage Door Opener · Shared Driveway · Parking Lot
- Lot
- Xeriscape Landscape
- Construction
- Frame
- Roof
- Composition
06
Location & schools
N/A44.2899° N · 121.1728° W
Directions- Elementary
- John Tuck Elem
- Middle
- Elton Gregory Middle
- High
- Redmond High
Assignments come from the listing broker and boundaries change. Verify with the school district before you count on them.
07
Monthly payment
$35,965/mo$35,965/mo
$4,640,000 loan · 30 yr fixed · 6.5%
- Principal & interest
- $29,328
- Property tax (listing)
- $4,462
- Home insurance (est.)
- $2,175
20% · $1,160,000
6.500%
Loan term
Estimate only. Taxes use the listing's reported amount when there is one; insurance is approximated. A lender can give you an exact number.
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#220228489Listing information provided by Oregon Data Share. Data last updated Oct 7, 2026, 2:01 PM.
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