Occupied Two-Unit
For Sale
$525,000
220 SE 28TH AVE, Hillsboro, OR 97123
Both dwellings have longtime tenants, supporting an established rental operation.
Property Size2,096 SF
Days on Market8
Property Features for 220 SE 28TH AVE
General Information
Standard status
Active
Size
2,096 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,887
Building Details
Building Size
2,096 SF
Year Built
1973
Tenancy
Multi
Listing Agency:
Modern Realty
Listed By:
Santino Filipelli · License #201011066
(971) 200-9977
Source:
Eleeterealestate
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 21 at 5:29AM
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 Modern Realty
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Investment Insights
Based on property information with market context.
This two-unit duplex includes the properties at 214 and 220 SE 28th Ave, with a combined building area of 2,096 square feet. Built in 1973, the property is occupied by longtime tenants in both units. Its Home Energy Score is 4; the score report is available at rpt.greenbuildingregistry.com/hes/OR10236118.
The property is in Hillsboro, near shopping, dining, and everyday services. Turner Creek Park offers nearby trails, sports courts, and outdoor recreation. The Hillsboro Airport/Fairgrounds MAX station provides transit connections to the Portland metro area, and downtown Hillsboro has restaurants, shops, and community amenities.
The property is in Hillsboro, near shopping, dining, and everyday services. Turner Creek Park offers nearby trails, sports courts, and outdoor recreation. The Hillsboro Airport/Fairgrounds MAX station provides transit connections to the Portland metro area, and downtown Hillsboro has restaurants, shops, and community amenities.
Key Highlights
- Two‑unit property includes 214 and 220 SE 28th Ave
- 2,096 square feet of building area
- Built in 1973
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,479
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,580
$629.6K
Cap Rate 7%
$449,700
$449.7K
Cap Rate 9%
$349,767
$349.8K
Market Conditions
NOI Build-Up for 2,096 SF
Gross rent
$47.5K $22.68/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$45.0K $21.46/SF
− OpEx
−$13.5K −$6.44/SF
NOI
$31.5K $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%
$629,580
Cap Rate 7%
$449,700
Cap Rate 9%
$349,767
Alternative Uses
Best Use
Multifamily LT 5
$449.7K
$393.5K – $524.7K
NOI $31,479 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$396.3K
$346.7K – $462.3K
NOI $27,739 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$562.9K
$492.5K – $656.7K
NOI $39,400 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
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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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 - Both dwellings have longtime tenants, supporting an established rental operation.
Where is this duplex located?
The property is located at 220 SE 28TH AVE Hillsboro, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit property includes 214 and 220 SE 28th Ave; 2,096 square feet of building area; Built in 1973
