Building Details

Year Built 2021

Buildings 10

Stories 2

Units 20

Listed By: Fred Mueller Show Phone

Added: May 1 Changed: Jun 6

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Investment Insights

Based on property information with market context.

Key Highlights

• 1031, rental, college town

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$343,944

Cap Rate

5.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,878,880 $6.9M

Cap Rate 7%

$4,913,486 $4.9M

Cap Rate 9%

$3,821,600 $3.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 26,787 SF

Gross rent

$659.0K $24.60/SF

− Vacancy

−$33.6K −$1.25/SF

EGI

$625.4K $23.35/SF

− OpEx

−$281.4K −$10.51/SF

NOI

$343.9K $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 Rate 5%

$6,878,880

Cap Rate 7%

$4,913,486

Cap Rate 9%

$3,821,600

Alternative Uses

Best Use

Apartment 5plus

$4.91M

$4.30M – $5.73M (±1% cap)

NOI $343,944 @ 7.0% cap · market cap 5.46%

Second Best

Multifamily LT 5

$4.70M

$4.11M – $5.48M (±1% cap)

NOI $328,903 @ 7.0% cap · market cap 5.22%

Theoretical Best

Office A

$7.23M

$6.33M – $8.44M (±1% cap)

NOI $506,133 @ 7.0% cap · market cap 8.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Location Intelligence

Trade Area within ½ mile

98

Businesses Nearby

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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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Fee simple Newer duplexes near Pacific University with strong rental demand. 1031 exchange

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: 1031, rental, college town