Two-Unit
New
For Sale
$525,000
220 SE 28TH Ave, Hillsboro, OR 97123
MultiFamily, Hillsboro, OR
Property Size2,096 SF
Price / SF$250.48
Days on Market1
Property Features for 220 SE 28TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3
Elementary school
Brookwood
Middle school
South Meadows
High school
Hillsboro
Directions
E MAIN ST, TURN SOUTH ONTO SE 28TH AVE
Subdivision
_152
Standard status
Active
APN
R311512
Size
2,096 SF
Taxes and HOA fees
Tax Description
VIRGINIA PLACE, LOT PT 8, ACRES 0.16
Tax Annual Amount
3888
Legal Description
VIRGINIA PLACE, LOT PT 8, ACRES 0.16
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1973
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Modern Realty
(971) 340-6636
Listed By:
Santino Filipelli · License #201011066
(971) 200-9977
Added: Oct 16
Last Checked: Oct 16 at 10:06PM
MLS# 411678125
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 includes both residences at 214 and 220 SE 28th Ave. The property contains 2,096 square feet and was built in 1973. Heating is provided by forced air, cooling by window units, and the roof is composition. The property has a Home Energy Score of 4 and is zoned Res.
The property is near shopping, dining, and everyday services, with Turner Creek Park offering trails and sports courts nearby. Residents can access the Hillsboro Airport/Fairgrounds MAX station for connections across the Portland metro area. Downtown Hillsboro provides additional restaurants, shops, and community amenities.
The property is near shopping, dining, and everyday services, with Turner Creek Park offering trails and sports courts nearby. Residents can access the Hillsboro Airport/Fairgrounds MAX station for connections across the Portland metro area. Downtown Hillsboro provides additional restaurants, shops, and community amenities.
Key Highlights
- Both duplex residences are included: 214 and 220 SE 28th Ave
- 2,096 square feet
- Both units are occupied by tenants
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with established tenants in place.
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: Both duplex residences are included: 214 and 220 SE 28th Ave; 2,096 square feet; Both units are occupied by tenants
