Date
Details
Price
Change
Source
8/31/2026
Listed
$1,555,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$1,555,000
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Property Description
Fantastic Central Oregon Investment Property - Fifteen (15) Units, fully leased, professionally managed apartment complex. Don't miss this rare opportunity to purchase rental property in Madras, OR. These properties offer strong rental history & immediate cash flow opportunity. Each unit is 2 bedroom / 1 bath with mini split HVAC, washer/dryer hookups (some units provided). 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 a affordable purchase price.
Full Property Details
Full Property Details for 1535 SW Hwy 97
General
- Price: $1,555,000
- Taxes: $14,441 (2025)
- Status: Active
- Type: Multi-Family
- Source: ODS
- MLS ID: 220227963
- Updated: 8/31/2026
- Added to Site: 19 day(s) ago
Interior
- Interior Features: Laminate Counters, Linen Closet, Open Floorplan, Shower/Tub Combo
- Appliances: Dishwasher, Dryer, Oven, Range, Range Hood, Refrigerator, Washer, Water Heater
- Flooring: Carpet, Vinyl
Additional Information
- Security/Safety: Carbon Monoxide Detector(s), Smoke Detector(s)
Parking
- Parking Features: Asphalt, Driveway, On Street
- Parking: Primary Suite, Driveaway
Location
- Area: 14408
- County: Jefferson
- Subdivision: Manathiela
- Cross Streets: SW Brush Lane
- Driving Directions: US HWY 97 in south Madras at the corner us SW Brush Lane, property is on the south side of Brush Lane and along the front of US Hwy 97.
School Information
- Elementary School: Buff Elementary
- Middle School: Jefferson County Middle
- High School: Madras High
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Ductless, Other
- Heating Type: Baseboard, Wall Furnace, Other
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Architectural Style: Traditional
- Construction: Block, Frame
- Basement Desc.: None
- Foundation: Stemwall
- Roof: Composition
- Common Walls: 1 Common Wall, 2+ Common Walls
- Windows: Aluminum Frames, Vinyl Frames
- Square Feet: 14,408
- Sq. Ft. Source: Assessor
- Year Built: 1950
Lot Features
- Lot Size (Acres): 1.45
- Lot Size (Sq. Ft.): 63,162
- Frontage: Shared Access
- Street/Road Desc.: Paved
- Lot Features: Corner Lot, Landscaped, Sloped
- Zoning: MUE
Financial Considerations
- Tax Amount: $14,441.87
- Tax Year: 2025
- Terms: Cash, Conventional
Disclosures and Reports
- Special Conditions: Standard
- APN: 1828
- Section: Not Applicable
- Block: 4
- Lot Number: 1
Listed by Willow Canyon Group (541) 475-2220, Richard Allen (541) 475-2220
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Listing agent
— 1535 SW Hwy 97 —
Richard Allen
Willow Canyon Group
541-475-2220
NMLS#: 1598647
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Get a Great Insurance Rate
Schools
Schools serving 1535 SW Hwy 97
School District:Jefferson County School District 509j
| Name | Grades | Distance |
|---|---|---|
Metolius Elementary School 420 Butte Ave SW, Madras, OR 97741 | K-5 | 2.7 mi |
Jefferson County Middle School 1180 Southeast Kemper Way, Madras, OR 97741 | 6-8 | 1.9 mi |
Madras High School 390 Southeast 10th Street, Madras, OR 97741 | 9-12 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1535 SW Hwy 97
Tax History
Tax History for 1535 SW Hwy 97
Year
Property Taxes
Change
Tax Assessment
Change
2025
$14,442
2%
$702,990
3%
2024
$14,194
7%
$682,520
3%
2023
$13,295
14%
$662,650
3%
2022
$11,619
1%
$643,350
3%
2021
$11,533
—
$624,620
3%
2020
$11,578
-2%
$606,430
3%
2019
$11,847
3%
$588,770
3%
2018
$11,472
13%
$571,630
3%
2017
$10,135
12%
$554,990
11%
2016
$9,088
—
$500,000
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1535 SW Hwy 97
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1535 SW Highway 97, Madras, OR 97741 (MLS# 220227963) is a Multi-Family property with 15 units containing 0 bedrooms and 0 full bathrooms. 1535 SW Highway 97 is currently listed for $1,555,000 and was received on August 31, 2026. Want to learn more about 1535 SW Highway 97? Do you have questions about finding other Multi-Family real estate for sale in Madras? You can browse all Madras real estate or contact a Coldwell Banker agent to request more information.