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    Forest Grove Multifamily Investment Opportunity Title is generated by Realmo AI

    1270 PACIFIC Ave, Forest Grove, OR 97116

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    Picture of Duplexes at 1270 PACIFIC Ave, Forest Grove, OR
    For Sale
    $6,300,000

    MULTI_FAMILY - ForestGrove, OR

    Property size:
    26,787 SF
    Lot size:
    0.80 Acres
    Price / SF:
    $235/SF
    Added:
    May 1, 2026
    Days on Market:
    17
    Last Refresh:
    May 17 at 10:06 am

    Property Features for 1270 PACIFIC Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-5
    Bedrooms
    30
    Bathrooms
    20
    Rooms
    Bedroom 7, Bathroom 20, Bedroom 12, Bedroom 17, Bathroom 19, Bedroom 4, Bedroom 18, Bedroom 13, Bedroom 14, Bathroom 8, Bedroom 15, Bathroom 10, Bedroom 9, Bathroom 16, Bedroom 30, Bathroom 6, Bathroom 2, Bedroom 5, Bathroom 7, Bedroom 27, Bedroom 1, Bedroom 11, Bedroom 28, Bedroom 10, Bedroom 2, Bedroom 26, Bathroom 17, Bedroom 6, Bedroom 22, Bathroom 4, Bedroom 3, Bathroom 13, Bedroom 24, Bathroom 3, Bathroom 15, Bedroom 29, Bathroom 18, Bedroom 19, Bedroom 20, Bedroom 25, Bedroom 23, Bedroom 21, Bedroom 8, Bathroom 9, Bathroom 14, Bathroom 11, Bedroom 16, Bathroom 12, Bathroom 5, Bathroom 1
    Standard status
    Active
    APN
    R2220699
    Size
    26,787 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

    Utilities

    Heating system
    Forced Air, Heat Pump (Heating)
    Cooling system
    Heat Pump, Central Air

    Building Details

    Year built
    2021
    Floors in Building
    2
    Number of units
    20
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Fred Mueller

    Listing agent Fred Mueller

    Listing office Premiere Property Group, LLC 5000 Meadows Rd Ste 150, Lake Oswego, OR

    Listing date May 1, 2026

    MLS# 578623787 Listing URL

    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.

    HighLights

    • Assumable 5.45% interest rate loan available.
    • Newer construction duplexes built in 2021.
    • Located near Pacific University in a college town with strong rental demand.
    • Portfolio purchase options available (3, 6, or 10 duplexes).
    • Current combined monthly income for all 10 properties is approximately $42,000+.
    • Convenient to campus, downtown Forest Grove, and commuting routes.

    Overview

    This portfolio includes newer construction duplexes located approximately three blocks from Pacific University in Forest Grove. The properties offer street appeal and are conveniently located near the campus, downtown Forest Grove, and commuting routes. The combined monthly income for all 10 properties is approximately $42,000+. The properties are situated in a college town location with strong rental demand. The total lot size is 0.8 acres, with a property size of 26787 square feet. The zoning is R-5, allowing for multifamily and residential income properties. This presents an opportunity for investors seeking residential income property in Forest Grove.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $3.82M
    NOI $343,944 @ 9.00% cap · cautious / downside scenario
    Moderate
    $4.91M
    NOI $343,944 @ 7.00% cap · market / base-case scenario
    Aggressive
    $6.88M
    NOI $343,944 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $659.0k $24.60
    − Vacancy −$33.6k −$1.25
    EGI $625.4k $23.35
    − OpEx −$281.4k −$10.51
    NOI $343.9k $12.84
    26,787 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%

    Alternative Use Scenarios

    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 local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest Grove
    County
    Washington
    State
    Oregon
    Longitude
    -123.125001
    Latitude
    45.5198444

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    • Contact for pricing

      Commercial Property for Sale

      Commercial property available for sale in Forest Grove, Oregon.
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    FAQs

    What type of property is this?
    Duplex - Portfolio of duplexes near Pacific University with strong rental demand.
    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: Assumable 5.45% interest rate loan available.; Newer construction duplexes built in 2021.; Located near Pacific University in a college town with strong rental demand.
    (503) 750-8030
    We can help!
    Listing Contact
    Fred Mueller
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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