For sale

$4,600,000

Est. $28,693/mo —

—

•

— ba

•

20,424

sq ft

51376 Preble Way, La Pine, OR 97739

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%.

Multi-familyProperty Type

2024Year Built

0.83 acresLot Size

$225Price/Sq.Ft.

Listed by Charles Brazer • NAI Cascade

Listing updated: Nov 11, 2026 at 04:30pm

Redfin checked: 2 minutes ago

•Source:MLSCO #220231002

Payment calculator

$28,693 per month

Principal and interest$25,104

Property taxes

$3,052

HOA dues

Home insurance

$537

Utilities

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Open houses

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Nearby open houses (4)

OPEN TODAY, 12PM TO 3PM
$1,150,000
2 beds2 baths1,882 sq ft
17299 White Oak Pl, Bend, OR 97707
22.24 acre lot • Parking • Built 1990
OPEN SAT, 10AM TO 12PM
$469,500
4 beds2 baths1,623 sq ft
51356 Apache Tears Ct, La Pine, OR 97739
5,227 sq ft lot • 2 garage spots • Built 2021
OPEN SAT, 12PM TO 2PM
$499,000
3 beds2 baths1,702 sq ft
52971 Walker Way, La Pine, OR 97739
1.09 acre lot • 2 garage spots • Built 2006
OPEN SAT, 1PM TO 4PM
$428,000
3 beds2.5 baths1,573 sq ft
16625 Landing Ct, La Pine, OR 97739
6,969 sq ft lot • 2 garage spots • Built 2022

Around this home

Schools

K - 12
Preschool & daycare

Rosland Elementary School

Public K-5 • Assigned • 2.6mi

2/10

Lapine Middle School

Public 6-8 • Assigned • 0.7mi

2/10

Lapine Senior High School

Public 9-12 • Assigned • 0.9mi

2/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Property details

Interior
Exterior
Finance

Flooring
Vinyl flooring

Heating & cooling
Forced-air heating
Wall furnace
Wall/window-unit cooling

Sale and tax history for 51376 Preble Way

Sale History
Tax History

Date

Event

Price

MLSCO #220231002

Nov 10, 2026

Listed

$4,600,000

$225/sq ft

APPFOLIO #2

Jan 16, 2025

Rental Removed

$1,495

$0/sq ft

Sep 25, 2024

Price Changed

$1,495

$0/sq ft

Aug 24, 2024

Price Changed

$1,575

$0/sq ft

Aug 15, 2024

Price Changed

$1,495

$0/sq ft

May 29, 2024

Listed for Rent

$1,595

$0/sq ft

RENT. #3

Sep 24, 2024

Rental Removed

$1,575

$0/sq ft

Aug 24, 2024

Price Changed

$1,575

$0/sq ft

Aug 14, 2024

Price Changed

$1,495

$0/sq ft

Jul 30, 2024

Listed for Rent

$1,595

$0/sq ft

APPFOLIO #1

May 29, 2024

Rental Removed

$1,625

$0/sq ft

May 17, 2024

Price Changed

$1,625

$0/sq ft

May 3, 2024

Listed for Rent

$1,650

$0/sq ft

MLSCO #220142173

Jul 1, 2022

Sold

$200,000

$10/sq ft

Apr 25, 2022

Pending

—

Mar 29, 2022

Listed

$200,000

$10/sq ft

MLSCO #220127773

Aug 28, 2021

Listing Removed

—

Aug 19, 2021

Price Changed

$160,000

$8/sq ft

Jul 24, 2021

Listed

$250,000

$12/sq ft

Public record

Public record
Permits

Beds

—

Baths

—

Stories

—

Lot width

—

Lot depth

—

Lot size

0.83 Acres

Year renovated

—

Finished Sq. Ft.

12,435

Unfinished Sq. Ft.

—

Total Sq. Ft.

12,435

Year built

2023

Style

Other

County

Deschutes County

APN

265276

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Nov 5, 2026.

Jul 31, 2024 • Final

Commercial electrical

Install a limited energy fire alarm system in an apartment building.

Electrical

Fire sprinkler

Jul 31, 2024 • Final

Commercial structural

Construct a new three-story apartment building.

New construction

Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

3/10 Fire Factor

0.15% chance of being in a wildfire in next 30 years

3/10 Heat Factor

7 days above 90° expected this year, 16 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

9/10 Air Factor

12 unhealthy days expected this year, 19 days in 30 years

Provided by First Street

Historical weather

La Pine, OR • 97739

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

Try the sun simulator tool to see how light moves across the property at different times of day and year.

Provided by Shadowmap

Redfin Estimate for 51376 Preble Way

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Early Access listings

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New listings for sale in 97739

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Covered front porch • Finished bonus space • Ample room for rvs

NEW 24 HRS AGO

$4,600,000

— beds— baths20,424 sq ft

51376 Preble Way, La Pine, OR 97739

0.83 acre lot • Built 2024

$409,000

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Metal roof • Corner lot • Circular driveway

Details provided by MLSCO and may not match the public record. Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Payment calculator

Affordability tools

See this home in person

Nearby open houses (4)

Around this home

Schools

Lifestyle

Property details

Sale and tax history for 51376 Preble Way

Public record

Climate risks

Historical weather

Sun exposure

Redfin Estimate for 51376 Preble Way

Early Access listings

Nearby similar homes

New listings for sale in 97739

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