Duplex Apartment
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 Market190
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
Bathroom 11, Bedroom 1, Bathroom 14, Bedroom 28, Bathroom 6, Bedroom 13, Bathroom 12, Bedroom 4, Bathroom 7, Bathroom 3, Bedroom 10, Bedroom 11, Bathroom 10, Bedroom 22, Bathroom 13, Bathroom 18, Bedroom 20, Bedroom 27, Bedroom 30, Bathroom 4, Bedroom 9, Bedroom 2, Bedroom 26, Bathroom 9, Bedroom 29, Bedroom 19, Bedroom 16, Bedroom 21, Bedroom 15, Bedroom 3, Bathroom 17, Bedroom 8, Bedroom 12, Bathroom 2, Bathroom 8, Bedroom 23, Bedroom 25, Bathroom 1, Bedroom 14, Bathroom 20, Bedroom 18, Bedroom 6, Bedroom 17, Bathroom 15, Bathroom 16, Bedroom 7, Bedroom 24, Bathroom 19, Bathroom 5, Bedroom 5
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
Shingle, Composition
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Fred Mueller
(503) 750-8030
Added: May 1
Changed: Oct 25
Last Checked: Nov 6 at 1:06PM
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.
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Investment Insights
Based on property information with market context.
This apartment property comprises newer-construction, fee-simple duplexes built in 2021. The buildings contain a combined 27,077 square feet on 0.8 acres and are zoned R-5. Heating is provided by forced-air systems and heat pumps; cooling includes central air and heat pumps. Composition and shingle roofing is reported.
The property is approximately 10 blocks from Pacific University in Forest Grove, Oregon. Assumable financing is also noted.
The property is approximately 10 blocks from Pacific University in Forest Grove, Oregon. Assumable financing is also noted.
Key Highlights
- Fee‑simple duplexes built in 2021
- Combined building area of 27,077 square feet on 0.8 acres
- Zoned R‑5
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
—
—
no second resolved use
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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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
$479,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Washington County, OR
Properties on Market for Apartment buildings in Washington County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 2021, the properties have forced-air and heat-pump heating, with central air and heat-pump cooling.
Where is this apartment building 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 duplexes built in 2021; Combined building area of 27,077 square feet on 0.8 acres; Zoned R‑5
