51376 Preble Way, La Pine, OR 97739

La Pine
Local realty services provided by:Better Homes and Gardens Real Estate Equinox
51376 Preble Way,La Pine, OR 97739
$4,600,000
  • - Beds
  • - Baths
  • 20,424 sq. ft.
  • Multi-family
  • Active
Listed by: charles t brazer
Office: nai cascade
MLS#:220231002
Source:OR_SOMLS

Price summary

  • Price:$4,600,000
  • Price per sq. ft.:$225.23

About this home

See attachment for more information including APOD. The Preble Way Apartments were recently delivered in 2024 and represent one of only a few apartment communities serving the growing La Pine, Oregon market. The subject property is situated on a 0.83 acre flag lot in a quiet neighborhood setting adjacent to Finley Butte Road in La Pine, Oregon. This attractive location is in close proximity to La Pine's city core. The apartments are comprised of 24 - total units. All units are spacious 2BD/2BA single-level style units at approximately 851 square feet each. The Preble Way Apartments represent a one-of-a-kind multifamily project in one of the fastest growing, developer-friendly new markets in central Oregon. Seller willing to guarantee rent at 90% occupancy for one year. Current average rents at Preble Way are approximately $1.80/SF, just under the average for immediate location rental comparables of $1.93/SF. Current capitalization rate based on asking price yields 6.64%.

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Home facts

  • Year built:2024
  • Subdivision & Development:N/A
  • Listing ID #:220231002
  • Added:1 day(s) ago
  • Updated:November 12, 2026 at 01:08 PM

Rooms and interior

  • Flooring:Vinyl
  • Living area:20,424 sq. ft.

Heating and cooling

  • Cooling:Wall/Window Unit(s)
  • Heating:Forced Air, Wall Furnace

Structure and exterior

  • Roof:Composition
  • Year built:2024
  • Building area:20,424 sq. ft.
  • Lot area:0.83 Acres
  • Architectural Style:Contemporary
  • Foundation Description:Slab
  • Levels:3+ Story

Schools

  • High school:LaPine Sr High
  • Middle school:LaPine Middle
  • Elementary school:LaPine Elem

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,600,000
  • Price per sq. ft.:$225.23
  • Tax amount:$36,627 (2025)

Parking

  • Parking description:Parking Lot

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