Address
1535 Us-97, Madras, OR
Price
$ 1,555,000
Property Attributes
- MLS#262338
- TypeSingle Family
- Listing Status Active
- CountyJEFFERSON
- CityMadras
- Zip97741
- StyleTraditional
- Year Built1950
- Taxes$ 14441
- Price$ 1,555,000
- Bedrooms30
- Full Bathrooms15
- Half Bathrooms0
- Sqr Footage14008
- Lot Size1.45 Acres
Data Source:
Lincoln County MLS Oregon (LCMLS-O)
Property Description
Fantastic Central Oregon Investment Opportunity - Fifteen Unit (15) Fully Leased Apartment Complex. Don't miss this rare chance to purchase rental property in Madras, OR. These properties offer strong rental history & immediate cash flow opportunity. Each unit is 2 bedrooms/1 bath with mini split HVAC, washer/dryer hookups. 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 an affordable purchase price.
| Price History | |
|---|---|
| 8/25/2026 | Listed $1,555,000 |
General Features
| Heating | Baseboard,Wall Furnace,Other |
|---|---|
| Cooling | Ductless,Other |
| Utilities | Cable Available,Electricity Connected,Natural Gas Connected,Phone Available,Other |
| Possession | Close Of Escrow |
| Roof | Composition |
| Appliances | Dishwasher,Electric Oven,Electric Range,Disposal,Electric Cooktop,Range Hood,Refrigerator,Washer/Dryer Stacked |
| Zoning | MU - Mixed Use |
| Architectural Style | Traditional |
| Security Features | Carbon Monoxide Detector(s),Smoke Detector(s) |
| Year Built | 1950 |
| Tenant Pays | Grounds Care,Sewer,Trash Collection,Water |
| Property Subtype | Multi Family |
| Tax Year | 2025 |
| Gross Income | 161767.0 |
| County | Jefferson |
| Net Operating Income | 75158.0 |
| Operating Expense | 106609.0 |
| Property Type | Residential Income |
| HOA | No |
| Attached Garage | No |
| Subdivision Name | N/A |
| Garage Y/N | No |
| Status | Active |
| Directions | From Hwy 97,take the SW Brush Lane turn,property is on the right side. Brush Lane Apartments. |
| City | Madras |
| Senior Community Y/N | No |
| High School District | Outside Area |
| Number Of Units Total | 15 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 63162.0 |
| Carport Y/N | Yes |
| Number of Units Leased | 15 |
| Land Lease Y/N | No |
| Tax Annual Amount | 14441.87 |
| Home Warranty Y/N | No |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Rent Control Y/N | No |
| Standard Status | Active |
Interior Features
| Flooring | Carpet,Laminate,Vinyl |
|---|---|
| Basement (Y/N) | No |
| Air Conditioning Y/N | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Above Grade Finished Area | 0.0 |
| Total Bedrooms | 30 |
| Below Grade Finished Area | 0.0 |
| Total Baths | 15 |
Exterior Features
| Parking Features | Additional Parking,Off Street |
|---|---|
| Water Source | Private |
| Total Parking | 30.0 |
| Lot Size Area | 1.45 |
| Foundation Details | Other |
| Spa | No |
| Building Area Total | 14008.0 |
| Lot Size Acres | 1.45 |
| Crops Included Y/N | No |
| Horse Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 97741
Price
Taxes
Year Built
Visits
All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by RMLSTM.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLSTM of Portland, Oregon. Real estate listings held by brokerage firms other than REMAX Integrity are marked with the RMLSTM logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2026 RMLSTM, Portland, Oregon.
This content last updated on September 11, 2026 7:36 AM UTC at 4 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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