Fee-Simple Duplex
For Sale
$6,300,000
1270 PACIFIC Ave, Forest Grove, OR 97116
MultiFamily, ForestGrove, OR
Property Size27,077 SF
Lot Size0.80 Acres
Price / SF$232.67
Days on Market112
Property Features for 1270 PACIFIC Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5
Bedrooms
30
Bathrooms
20
Full bathrooms
20
Rooms
Bedroom 3, Bedroom 28, Bathroom 6, Bathroom 13, Bedroom 23, Bedroom 6, Bedroom 13, Bedroom 26, Bedroom 2, Bedroom 27, Bedroom 14, Bedroom 7, Bathroom 20, Bathroom 18, Bathroom 7, Bathroom 16, Bedroom 15, Bathroom 2, Bathroom 19, Bathroom 9, Bedroom 24, Bathroom 4, Bathroom 3, Bedroom 18, Bathroom 10, Bedroom 9, Bedroom 11, Bathroom 8, Bedroom 17, Bedroom 4, Bathroom 14, Bedroom 19, Bedroom 10, Bedroom 8, Bedroom 16, Bedroom 29, Bedroom 30, Bedroom 22, Bathroom 1, Bathroom 5, Bathroom 17, Bedroom 1, Bedroom 5, Bedroom 21, Bathroom 11, Bathroom 12, Bedroom 25, Bathroom 15, Bedroom 20, Bedroom 12
View
Territorial
Elementary school
Joseph Gale
Middle school
Neil Armstrong
High school
Forest Grove
Directions
Pacific Ave, north of TV Hwy / Hwy 47 intersection
Subdivision
_152
Standard status
Active
APN
R2220699
Size
27,077 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Description
GALES CREEK TERRACE NO. 4, LOT 150, ACRES 0.09
Tax Annual Amount
73859
Legal Description
GALES CREEK TERRACE NO. 4, LOT 150, ACRES 0.09
Utilities
Heating system
Forced Air, Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Building Details
Year built
2021
Floors in Building
2
Number of units
20
Roof type
Composition, Shingle
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Fred Mueller
(503) 750-8030
Added: May 1
Changed: Aug 19
Last Checked: Aug 20 at 3:06AM
MLS# 578623787
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily offering comprises fee-simple duplexes constructed in 2021, with portfolio options covering three, six, or all ten duplexes. The properties encompass 27,077 square feet on 0.8 acres and are zoned R-5. Mechanical systems include forced-air and heat-pump heating, while cooling is provided by central air and heat-pump systems. Roofing consists of shingle and composition materials.
The property is located at 1270 Pacific Ave in Forest Grove, Oregon, approximately 10 blocks from Pacific University. The available portfolio configurations provide multiple scales for evaluating the duplex assets as a combined offering.
The property is located at 1270 Pacific Ave in Forest Grove, Oregon, approximately 10 blocks from Pacific University. The available portfolio configurations provide multiple scales for evaluating the duplex assets as a combined offering.
Key Highlights
- Fee‑simple duplex portfolio with options for 3, 6, or all 10 duplexes
- Built in 2021
- 27,077 square feet across 0.8 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$347,668
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,953,360
$7.0M
Cap Rate 7%
$4,966,686
$5.0M
Cap Rate 9%
$3,862,978
$3.9M
Market Conditions
NOI Build-Up for 27,077 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$666.1K $24.60/SF
− Vacancy
−$34.0K −$1.25/SF
EGI
$632.1K $23.35/SF
− OpEx
−$284.5K −$10.51/SF
NOI
$347.7K $12.84/SF
Area
Washington County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,953,360
Cap Rate 7%
$4,966,686
Cap Rate 9%
$3,862,978
Alternative Uses
Best Use
Apartment 5plus
$4.97M
$4.35M – $5.79M
NOI $347,668 @ 7.0% cap · market cap 5.52%
Second Best
Multifamily LT 5
$4.75M
$4.16M – $5.54M
NOI $332,463 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$7.31M
$6.40M – $8.53M
NOI $511,612 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Explore this area
Business Placement
Demographics for 97116, OR
29,351
Population
10,229
Households
2.9
Avg Household Size
36
Median Age
33%
College-Educated
90%
High-School Grad
82.1 sq mi
ZIP Area
358
Density / Sq Mi
$87,308
Median Household Income
$42,330
Median Earnings
$1,397
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Built in 2021, the properties include central air and heat-pump heating and cooling.
Where is this duplex located?
The property is located at 1270 PACIFIC Ave Forest Grove, OR.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: Fee‑simple duplex portfolio with options for 3, 6, or all 10 duplexes; Built in 2021; 27,077 square feet across 0.8 acres
