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615-629 N Elliott Rd Newberg, OR 97132

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For Sale
$2,700,000

Well-maintained townhomes near George Fox University with expansion potential.

Property size:
12,743 SF

Property Features for 615-629 N Elliott Rd

General Information

Size
12,743 SF

Building Details

Year built
1996
Source: Tcnworldwide

Listing Agent: David Chatfield

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Newberg Townhome Community Near University

Elliott Estates is a well-maintained townhome community situated five blocks from George Fox University in Newberg, Oregon. The property comprises ten townhomes, each featuring attached garages and washer/dryer hookups. There is additional land available that offers the potential to add more density. Current in-place rental rates range from $1,505 to $1,900 per month. Residents are billed back for water and sewer at a flat rate and are responsible for their own garbage pickup. Elliott Road is a strategic corridor in Newberg, connecting Highway 99W to Newberg High School. The area has been identified as a priority improvement zone in Newberg's Transportation System Plan. The property features strong rental collections and historical occupancy. Roofs were replaced in 2016. Three units have been partially updated with new appliances and LVT flooring. Tenants are responsible for paying for garbage, and water/sewer is billed back on RUBs.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Newberg
County
Yamhill
State
Oregon
Longitude
-122.9549965
Latitude
45.3051216

FAQs

What type of property is this?
Apartment building - Well-maintained townhomes near George Fox University with expansion potential.
Where is this apartment building located?
The property is located at 615-629 N Elliott Rd Newberg, OR.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: - Excess land allows for potential increased density and future development opportunities.; - Strong rental collections and historical occupancy provide stable income.; - Upside potential on in-place and asking rents for increased revenue.
More about this property
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