Duplex with Updated Gas
For Sale
$599,900
2235 SE 53RD AVE, Hillsboro, OR 97123
Both units have individual gas furnaces and established long-term tenants.
Property Size2,140 SF
Days on Market56
Property Features for 2235 SE 53RD AVE
General Information
Standard status
Active
Size
2,140 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$4,546
Building Details
Building Size
2,140 SF
Year Built
1978
Listing Agency:
John L. Scott
Listed By:
Pat Griffith · License #891200192
(503) 939-9090
Source:
Eleeterealestate
Added: Sep 1
Changed: Oct 11
Last Checked: Oct 25 at 12:39AM
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 John L. Scott
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Investment Insights
Based on property information with market context.
Built in 1978, this duplex includes two separate units, each equipped with its own gas furnace. The furnaces were replaced within the last 3 years, providing updated heating equipment for both residences.
The property is located at 2235 SE 53RD AVE in Hillsboro, Oregon, and has long-term tenants in place. Offers are subject to interior inspection.
The property is located at 2235 SE 53RD AVE in Hillsboro, Oregon, and has long-term tenants in place. Offers are subject to interior inspection.
Key Highlights
- Two‑unit duplex at 2235 SE 53RD AVE, Hillsboro, OR 97123
- Each unit has its own gas furnace
- Gas furnaces replaced in the last 3 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,140
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,800
$642.8K
Cap Rate 7%
$459,143
$459.1K
Cap Rate 9%
$357,111
$357.1K
Market Conditions
NOI Build-Up for 2,140 SF
Gross rent
$48.5K $22.68/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$45.9K $21.46/SF
− OpEx
−$13.8K −$6.44/SF
NOI
$32.1K $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%
$642,800
Cap Rate 7%
$459,143
Cap Rate 9%
$357,111
Alternative Uses
Best Use
Multifamily LT 5
$459.1K
$401.8K – $535.7K
NOI $32,140 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$404.6K
$354.0K – $472.0K
NOI $28,321 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$574.7K
$502.8K – $670.5K
NOI $40,227 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
358
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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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 units have individual gas furnaces and established long-term tenants.
Where is this duplex located?
The property is located at 2235 SE 53RD AVE Hillsboro, OR.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex at 2235 SE 53RD AVE, Hillsboro, OR 97123; Each unit has its own gas furnace; Gas furnaces replaced in the last 3 years
