Date
Details
Price
Change
Source
8/26/2026
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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1/20
$1,555,000
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1/20
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.
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: RWMLS
- MLS ID: 173981808
- Updated: 9/2/2026
- Added to Site: 24 day(s) ago
Rental Information
- Rent Includes: Maintenance Grounds, Sewer, Trash Collection, Water
Additional Information
- Security/Safety: None
Parking
- Total Spaces: 30
- Parking Features: On Street, Open
Location
- County: Jefferson
- Driving Directions: From Hwy 97, take the SW Brush Lane turn, property is on the right side. Brush Lane Apartments.
School Information
- Elementary School: Madras
- Middle School: Jefferson Co
- High School: Madras
Community
- Community Name: 340 - Jefferson County
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Mini Split
- Heating Type: Baseboard, Wall Furnace
- Heating Fuel: None
Utilities
- Sewer: Public Sewer
- Water: Private
Structural Information
- Property Detached: Yes
- Roof: Composition
- Stories/Levels: 2
- Square Feet: 14,008
- Year Built: 1950
- Property Condition: Existing
Lot Features
- Lot Size (Acres): 1.45
- Lot Size (Sq. Ft.): 63,162
- Lot Size: 1 to 2.99 Acres
- Frontage: Paved
- Lot Features: Public Road, Street Car
Financial Considerations
- Operating Expenses: $106,609
- Tax Amount: $14,441.87
- Tax Year: 2025
- Terms: Cash, Conventional
Disclosures and Reports
- Legal Description: Sub: Manathiela Heights Lot - 1 Block - 4
- Disclosures/Reports: Disclosure
- Property ID: 1828
Listed by Emerald Coast Realty-Seal Rock (541) 283-3589, Geoff Groener (541) 390-4488
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Listing agent
— 1535 SW Hwy 97 —
Geoff Groener
Emerald Coast Realty-Seal Rock
541-283-3589
NMLS#: 1598647
Get Pre-Approved Today
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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- Commercial Service
- Closed
Listed by eXp Realty, LLC, Mike C. Ahern
Sold by eXp Realty, LLC, E Lamar Yoder
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Sold by Cascade Hasson SIR, Mark Ryan Garcia
Sold by Cascade Hasson SIR, Mark Ryan Garcia
1535 SW Highway 97, Madras, OR 97741 (MLS# 173981808) 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 26, 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.