Cedarwest Apartments

825 NE Watt Way Bend, OR 97701
Status: Escrow
Year Built: 1998
Price: CONTACT AGENT
# of Units: 121
# of Buildings: 11
# of Stories: 2
Rentable SF: 104,016
Lot Size: 5.95 Acres
Density: 20.33 Units/Acres

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Highlights:

  • Excellent AMI Growth in Deschutes County with a 22.62% Increase Since 2017
  • Bend’s Population has Grown Almost 17% Since 2011, Creating Nearly 11,000 New Jobs
  • Unrestricted Market Rents $275-$400 Above Restricted Affordable Housing Rents
  • Rent Growth in 2018 Ranked Bend Among the Strongest Performing Oregon Metros
  • Affordable Housing Regulatory Restrictions Expire in 2028
  • Deschutes County Total Employment Gains are Double the National Average
  • Walking Distance to Costco, Whole Foods, Safeway and Other Retail and Restaurant Options
  • CoStar Projects 12 Month Growth of 4%

Description:

Cedarwest Apartments is a 121-unit affordable housing community located in Bend, OR. Residents enjoy access to major shopping areas, dining, and schools. Pilot Butte Neighborhood Park is also within walking distance of the property and offers residents a variety of outdoor activities.

The property was built and placed in service in 1998 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 35% & 60% of Area Medium Income (AMI) limits, which are provided by the Oregon Housing and Community Services Department. The property is beyond its initial tax credit compliance period.

Residents benefit from community amenities such as a fitness center, on-site laundry facility, clubhouse, playground, sports court, and available garage parking for rent. Cedarwest offers one, two, and three bedroom floorplans that feature painted accent walls, washer/dryer hookups, and an abundance of kitchen cabinet and counter space.

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