A live-work unit is a space that combines your workspace with your living quarters. Usually the business is on ground level facing the street with the living quarters above the business. Benefits include reduced commute time (obviously), reduced gas and parking expenses, and because you can simply run upstairs to make lunch, you’ll likely save money and time if you’re accustomed to going out for lunch while at the office. In many cases, owners see an overall savings in their rent/mortgage payment because they aren’t paying for 2 separate spaces. Depending on the use restrictions, you might even be able to rent out the live or work space for additional income. Some owners are even able to get rid of their 2nd car. When looking at the big picture, live-work spaces appear to be a good solution to reducing urban sprawl and traffic congestion.
If you’re looking for live-work space in Bend, Oregon you really have 2 options: Mill Quarter and Northwest Crossing. (Every now and then you might find an older unit downtown).
As of today, there is only 1 live-work townhome available in Northwest Crossing, listed for $359,000. The upstairs living area includes 2 bedrooms/2bathrooms with approximately 1600 square feet (additional floor plans range from 1300-1600). The workspace is just shy of 600 square feet with an ADA compliant restroom plus mini kitchen. The townhomes were built to Earth Advantage standards and are Energy Star Certified.
In Mill Quarter, 3 floor plans were built, 2 of which allow the owner to rent out the commercial space separately. Two of those three floor plans are currently available. The smaller of the two floor plans is a total of 2793 square feet and features 2300 sq. ft. of living space with 2 bedrooms/2.5 baths. The commercial/retail space can be rented separately and consists of 450 square feet with an ADA compliant bathroom. The list price is $625,000. The largest floor plan is 3200 square feet with 3 bedrooms/3.5 bathrooms. The lower level (basement) is considered the “work” space and it has a separate entrance, although the CCR’s prohibit the owner from renting out the space separately. This floor plan is listed at $820,000. Both floor plans include a private elevator, Viking stainless appliances, and rooftop terraces.
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