About 575 Sw Madison Street
R-2 Multifamily zoning offers a unique investment and value-add opportunity in the heart of Madras. This property features one completed and livable unit, while the additional units are ready for the next owner to finish and customize. The unfinished units includes a completed exterior along with rough framing, rough electrical, and rough HVAC already in place, providing a significant head start toward completion. The county has this listed as an 8 bedroom, 3 bath. Currently 1 unit is complete featuring 2 bedrooms and 1 bath. 8 bed potential once project is completed. With much of the groundwork already completed, this is a rare opportunity to finish this multifamily unit to your specifications and capitalize on the growing demand for housing in Central Oregon. Buyer to perform all due diligence regarding permits, approvals, zoning, and requirements for completion of the unfinished portion.
Features of 575 Sw Madison Street
| MLS® # | 220223781 |
|---|---|
| Price | $300,000 |
| Bedrooms | 8 |
| Bathrooms | 3.00 |
| Full Baths | 3 |
| Square Footage | 3,632 |
| Acres | 0.26 |
| Year Built | 1948 |
| Type | Residential |
| Sub-Type | Single Family Residence |
| Style | Ranch |
| Status | Active |
Community Information
| Address | 575 Sw Madison Street |
|---|---|
| Subdivision | Railroad |
| City | Madras |
| County | Jefferson |
| State | OR |
| Zip Code | 97741 |
Amenities
| Parking | Alley Access, Concrete, Driveway, On Street, RV Access/Parking |
|---|---|
| View | Neighborhood |
| Is Waterfront | No |
Interior
| Interior Features | Breakfast Bar, Fiberglass Stall Shower |
|---|---|
| Appliances | Dryer, Oven, Range, Range Hood, Washer, Water Heater |
| Heating | Electric |
| Cooling | None |
| Fireplace | No |
| Stories | Two |
| Basement | None |
Exterior
| Lot Description | Level |
|---|---|
| Windows | Aluminum Frames, Double Pane Windows, Vinyl Frames |
| Roof | Composition |
| Construction | Block, Frame |
| Foundation | Slab, Stemwall |
School Information
| Elementary | Buff Elementary |
|---|---|
| Middle | Jefferson County Middle |
| High | Madras High |
Additional Information
| Date Listed | June 19th, 2026 |
|---|---|
| Days on Market | 78 |
| Zoning | R2 |
Listing Details
| Office | Windermere Realty Trust |
|---|