Quadplex with Attached
For Sale
$1,100,000
1540 SE BUSH St, Hillsboro, OR 97123
MultiFamily, Hillsboro, OR
Property Size3,108 SF
Lot Size0.42 Acres
Price / SF$353.93
Days on Market48
Property Features for 1540 SE BUSH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MR1
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 7, Bedroom 4, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 8, 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
3,108 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
BUSH SUBDIVISION, LOT PT 42, ACRES 0.24
Tax Annual Amount
7448
Legal Description
BUSH SUBDIVISION, LOT PT 42, ACRES 0.24
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
washer/dryer hookups
private patio and yard
Building Details
Year built
1965
Floors in Building
1
Number of units
4
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 2:06PM
MLS# 100259281
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 quadplex comprises two adjoining duplexes with four 2-bedroom, 1-bath residences totaling 3,108 square feet. Each unit measures approximately 784 square feet and includes an attached 1-car garage, washer and dryer hookups, and sliding-door access to a private patio and yard. The property was built in 1965 and has composition roofing, forced-air heating, and window unit cooling. Unit D has received significant recent remodeling and upgrades, while Unit B is vacant and available to show.
The 0.42-acre property is located less than 2 miles from Old Town Hillsboro, where shops, restaurants, theaters, and everyday amenities are nearby. The property is zoned MR1. Current occupancy and leasing details vary by unit, including a landscaping-services arrangement associated with Unit C.
The 0.42-acre property is located less than 2 miles from Old Town Hillsboro, where shops, restaurants, theaters, and everyday amenities are nearby. The property is zoned MR1. Current occupancy and leasing details vary by unit, including a landscaping-services arrangement associated with Unit C.
Key Highlights
- Four 2‑bedroom, 1‑bath units totaling 3,108 square feet
- Each residence includes an attached 1‑car garage
- Approximately 784 square feet per unit with private patio and yard space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,678
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,560
$933.6K
Cap Rate 7%
$666,829
$666.8K
Cap Rate 9%
$518,644
$518.6K
Market Conditions
NOI Build-Up for 3,108 SF
Gross rent
$70.5K $22.68/SF
− Vacancy
−$3.8K −$1.22/SF
EGI
$66.7K $21.46/SF
− OpEx
−$20.0K −$6.44/SF
NOI
$46.7K $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%
$933,560
Cap Rate 7%
$666,829
Cap Rate 9%
$518,644
Alternative Uses
Best Use
Multifamily LT 5
$666.8K
$583.5K – $778.0K
NOI $46,678 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$587.6K
$514.2K – $685.5K
NOI $41,132 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$834.6K
$730.3K – $973.7K
NOI $58,423 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
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?
Quadplex - Four two-bedroom units include private outdoor areas, laundry hookups, and forced-air heating.
Where is this quadplex located?
The property is located at 1540 SE BUSH St Hillsboro, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units totaling 3,108 square feet; Each residence includes an attached 1‑car garage; Approximately 784 square feet per unit with private patio and yard space
