20283 Murphy Rd

Bend OR 97702

1.59 sq. ft.

69260.4 sq. ft.

Duplex

Currently for sale - view listing

Overview

Exceptional investment and development opportunity on 1.59 acres. The property currently features three rental residences generating income (house and a duplex), providing an opportunity for immediate cash flow while exploring future development potential. The property's significant upside lies in its potential for a five-lot development, with the possibility of constructing a fourplex on each lot, creating a potential 20-unit multifamily project, subject to zoning, land-use approvals, and applicable development requirements. Infrastructure groundwork has already been initiated, including four sewer stubs and and two 8-inch water main roughed in on the property. These improvements may provide a valuable head start for investors, builders, and developers seeking to capitalize on Central Oregon's housing demand. Combine existing rental income with the potential for a substantial multifamily development.