Cascade Cottages – Investment Opportunity

Cascade Cottages offers investors the opportunity to acquire a brand-new, seven-unit multifamily development located in the heart of Southwest Bend. Completed in 2022, this boutique property features seven thoughtfully designed cottages, each 615 square feet, situated on nearly half an acre fronting the canal. The setting combines modern design with a peaceful environment, creating strong appeal for tenants. Currently 100% occupied, six units are leased and one is month-to-month, providing both stability and flexibility.

An additional highlight of the property is that one short-term rental (STR) permit would be allowed on the lot, though the new owner would need to reapply and be approved. This feature provides potential optionality for future owners seeking to diversify income streams or capitalize on Bend’s thriving tourism market.

The location amplifies the value proposition. Cascade Cottages is minutes from Fred Meyer, restaurants, and 3rd Street amenities, while also adjacent to the Old Mill District, a hub for shopping, dining, and cultural experiences. The Old Mill District is home to the Hayden Homes Amphitheater, which draws nearly 50 concerts per season and hosts marquee performers such as The Lumineers, Mumford & Sons, Goo Goo Dolls, and Brad Paisley. This combination of amenities and cultural offerings enhances the lifestyle appeal for residents and supports strong, long-term tenant demand.

With in-place NOI of $91,506 and a cap rate of 4.36%, Cascade Cottages combines immediate cash flow with significant upside, making it a compelling multifamily investment in one of Oregon’s most dynamic markets.