Total Sale Price: $4,750,000 Existing Units: $4,000,000 (5.62% Cap Rate) | Developable RM Land: $750,000 (1+AC) First Time Offered Studio Gardens Apartments: a perfect blend of charm, stability, and potential, and a landmark community in the heart of Bend. On the market for the first time since its inception in the 1970s, this family-developed, impeccably managed, and well-maintained property is ready for its next chapter. This is an opportunity to own a legacy asset with unparalleled potential in one of Oregon’s most desirable markets. Nestled on 2.82 acres of picturesque, wooded grounds with a seasonal canal, this property features 22 well-designed units across three two-story buildings: 10 one-bedroom, one-bath apartments and 12 two-bedroom, one-bath apartments. Tenants enjoy two laundry rooms and 22 storage units. Exceptional management has ensured consistent full occupancy. With over an acre of developable land zoned RM for multifamily housing, there’s immense potential for expansion and increased returns. This well-maintained, high-demand property offers the opportunity to own a prime asset in one of Oregon’s most sought-after locations.