Two-Unit Duplex with
For Sale
$569,000
1540 SE BUSH C AND D St, Hillsboro, OR 97123
MultiFamily, Hillsboro, OR
Property Size1,540 SF
Lot Size0.24 Acres
Price / SF$369.48
Days on Market48
Property Features for 1540 SE BUSH C AND D St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MR1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 2
Elementary school
W.L. Henry
Middle school
South Meadows
High school
Hillsboro
Directions
From TV HWY, North on SE 13th Ave, Right on SE Spruce St, Right on SE 15th Ave turns into Bush St.
Subdivision
_152
Standard status
Active
APN
R319337
Size
1,540 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
BUSH SUBDIVISION, LOT PT 42, ACRES 0.24
Tax Annual Amount
3659
Legal Description
BUSH SUBDIVISION, LOT PT 42, ACRES 0.24
Utilities
Heating system
Forced Air
Amenities
washer/dryer hookups
private patios and yard space
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
The Kelly Group Real Estate
Listed By:
Kelly Hagglund
(503) 538-4531
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 18 at 3:06PM
MLS# 651875792
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 duplex contains two residential units, each arranged with two bedrooms and one bathroom. Both units include an attached one-car garage, washer and dryer hookups, sliding-door access to private patio areas, and yard space. Unit D has received substantial recent remodeling and upgrades. The property is heated by forced air and has a composition roof.
The 0.24-acre parcel is zoned MR1 and was built in 1965. Current rents have not been raised in some time. Unit C receives landscaping services in exchange for a rent discount. The property is located less than 2 miles from Old Town Hillsboro, placing shops, restaurants, theaters, and other local amenities nearby. County changes may create potential commercial zoning considerations; buyers should verify zoning, permitted uses, and development potential.
The 0.24-acre parcel is zoned MR1 and was built in 1965. Current rents have not been raised in some time. Unit C receives landscaping services in exchange for a rent discount. The property is located less than 2 miles from Old Town Hillsboro, placing shops, restaurants, theaters, and other local amenities nearby. County changes may create potential commercial zoning considerations; buyers should verify zoning, permitted uses, and development potential.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Each unit includes an attached 1‑car garage
- Private patios and yard space accessed through sliding doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,129
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,580
$462.6K
Cap Rate 7%
$330,414
$330.4K
Cap Rate 9%
$256,989
$257.0K
Market Conditions
NOI Build-Up for 1,540 SF
Gross rent
$34.9K $22.68/SF
− Vacancy
−$1.9K −$1.22/SF
EGI
$33.0K $21.46/SF
− OpEx
−$9.9K −$6.44/SF
NOI
$23.1K $15.02/SF
Area
Hillsboro, OR
Vacancy
5.40%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,580
Cap Rate 7%
$330,414
Cap Rate 9%
$256,989
Alternative Uses
Best Use
Multifamily LT 5
$330.4K
$289.1K – $385.5K
NOI $23,129 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$291.2K
$254.8K – $339.7K
NOI $20,381 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$413.5K
$361.9K – $482.5K
NOI $28,948 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
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Business Placement
Demographics for 97123, OR
48,369
Population
17,685
Households
2.7
Avg Household Size
37
Median Age
36%
College-Educated
87%
High-School Grad
55.7 sq mi
ZIP Area
868
Density / Sq Mi
$105,999
Median Household Income
$50,578
Median Earnings
$1,814
Median Rent
$489,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with private patios, yard areas, and washer and dryer hookups.
Where is this duplex located?
The property is located at 1540 SE BUSH C AND D St Hillsboro, OR.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Each unit includes an attached 1‑car garage; Private patios and yard space accessed through sliding doors
