Updated Tri-Plex Townhome
121 Southeast 8th Avenue Hillsboro, OR 97123
121 Southeast 8th Avenue, Hillsboro, OR, 97123
$1,120,000
For Sale
$1,120,000
Three townhome-style units each have two bedrooms and 1.1 baths, with recent roof and appliance upgrades.
Property Size2,652 SF
Price / SF$422.32
Days on Market173
Property Features for 121 Southeast 8th Avenue
General Information
- Standard status
- Active
- Size
- 2,652 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2002
Listing agency
Knipe Realty ERA Powered
(503) 929-1223
Listed by
Renae Thompson · License #119166
(503) 929-1223
Source
Compass
Added: Jan 30 Updated: Jul 22 at 12:08AM Checked: Jul 22 at 6:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Knipe Realty ERA Powered
Investment Insights
Based on property information with market context.
This property is a tri-plex offering three townhome-style units, with each unit on its own tax lot. Each unit provides two bedrooms and 1.1 bathrooms. Updates include a new roof (2024) and new washers, dryers, and refrigerators (2024), along with fresh interior paint throughout. Private, fully fenced yards include new Trex decking (2025). The main levels feature modern wood-laminate flooring, and the property uses efficient gas heating.
The home is located in Hillsboro, with access to Pacific University and is described as being minutes from major employment and transit areas including OHSU/Tuality Hospital, MAX, and bus lines.
The offering includes two units that have new furnishings included with the property. The remarks indicate there are no HOA fees.
The home is located in Hillsboro, with access to Pacific University and is described as being minutes from major employment and transit areas including OHSU/Tuality Hospital, MAX, and bus lines.
The offering includes two units that have new furnishings included with the property. The remarks indicate there are no HOA fees.
Key Highlights
- Tri‑plex with three townhome‑style units, each on its own tax lot
- Each unit offers 2 bedrooms and 1.1 baths
- New roof (2024) with composition roof and wood siding exterior
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.1k | $22.68 |
| − Vacancy | −$3.2k | −$1.22 |
| EGI | $56.9k | $21.46 |
| − OpEx | −$17.1k | −$6.44 |
| NOI | $39.8k | $15.02 |
2,652 SF · lease $22.68/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$569.0K
$497.9K – $663.8K
NOI $39,830 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$501.4K
$438.7K – $585.0K
NOI $35,097 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$712.2K
$623.1K – $830.9K
NOI $49,851 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three townhome-style units each have two bedrooms and 1.1 baths, with recent roof and appliance upgrades.
Where is this triplex located?
The property is located at 121 Southeast 8th Avenue Hillsboro, OR.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: Tri‑plex with three townhome‑style units, each on its own tax lot; Each unit offers 2 bedrooms and 1.1 baths; New roof (2024) with composition roof and wood siding exterior
