2021 Fee Simple Duplex
For Sale
$6,300,000
1270 Pacific Ave, Forest Grove, OR 97116
Fee simple duplexes built in 2021 near Pacific University and downtown Forest Grove.
Property Size27,077 SF
Price / SF$232.67
Days on Market99
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Property Features for 1270 Pacific Ave
General Information
Standard status
Active
Size
27,077 SF
Property subtype
Multi-Family
Financials
Asking Price
$6,300,000
Gross Income
$504,000
Building Details
Year Built
2021
Buildings
10
Listing Agency:
Premiere Property Group, LLC
Listed By:
Fred Mueller
(503) 241-7325
Source:
Wisser
Added: Jul 9
Changed: Oct 2
Last Checked: Oct 6 at 12:02AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This portfolio includes 10 fee simple duplexes constructed in 2021 and designated R-5. The newer improvements provide a contemporary residential income asset across multiple duplex properties, with ownership structured on a fee simple basis.
The properties are located approximately 10 blocks from Pacific University in Forest Grove, with access to downtown and commuting routes. Their proximity to the university and the surrounding college-town setting places the portfolio within an established residential rental area. Portfolio options include three duplexes, six duplexes, or all 10 properties.
The properties are located approximately 10 blocks from Pacific University in Forest Grove, with access to downtown and commuting routes. Their proximity to the university and the surrounding college-town setting places the portfolio within an established residential rental area. Portfolio options include three duplexes, six duplexes, or all 10 properties.
Key Highlights
- 10 fee simple duplexes constructed in 2021
- R‑5 zoning
- Approximately 10 blocks from Pacific University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$347,668
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Fee simple duplexes built in 2021 near Pacific University and downtown Forest Grove.
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: 10 fee simple duplexes constructed in 2021; R‑5 zoning; Approximately 10 blocks from Pacific University
