Forest Grove Multifamily Investment
3118-3124 19th Pl, Forest Grove, OR 97116
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Well-maintained, 8-unit apartment complex with operational upside.
Type:Multifamily
Property size:
6,348 SFPrice / SF:
$235/SF- Added:
- May 26, 2026
- Days on Market:
- 8
- Last Refresh:
- May 27 at 8:28 am
Property Features for 3118-3124 19th Pl
General Information
- Standard status
- Active
- Size
- 6,348 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1972
Listing agent Phillip Barry License #200807134
Listing office Barry Investment Real Estate (503) 546-9390
Listing date May 26, 2026
Source Crexi
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 Barry Investment Real Estate
HighLights
- Stable, well‑maintained 8‑unit multifamily asset in desirable Forest Grove submarket.
- Opportunity for rental income upside through utility bill back and storage locker rentals.
- Mix of one and two‑bedroom units offering broad tenant appeal.
- Large floor plans with access to private patios.
- Recent capital improvements including new roof (2017), PEX water lines, and energy‑efficient windows/sliders.
- Strong history of stable occupancy in a quiet, residential setting.
Overview
The Donna Place Apartments, constructed in 1972, is an 8-unit multifamily property situated in the Forest Grove submarket of Washington County. The property features a low-density, single-level courtyard setting. The unit mix includes two one-bedroom units and six two-bedroom units. Most units have access to private patios. The property generates income supported by a mix of long-term residents and updated units. There is potential for rent increases, along with additional revenue sources, including the addition of Utility Bill back and storage locker rentals. A new roof was installed in 2017. Many ongoing interior updates have been completed at unit turnovers. New PEX water lines and new energy efficient vinyl windows & sliders were installed roughly 15-20 years ago. The property size is 6348 square feet. The Donna Place Apartments offer investors the opportunity to acquire a stabilized asset with operational upside in Forest Grove.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $156.2k | $24.60 |
| − Vacancy | −$8.0k | −$1.25 |
| EGI | $148.2k | $23.35 |
| − OpEx | −$66.7k | −$10.51 |
| NOI | $81.5k | $12.84 |
6,348 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,508 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,944 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Forest Grove
- County
- Washington
- State
- Oregon
- Longitude
- -123.091963
- Latitude
- 45.518962
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained, 8-unit apartment complex with operational upside.
Where is this apartment building located?
The property is located at 3118-3124 19th Pl Forest Grove, OR.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Stable, well‑maintained 8‑unit multifamily asset in desirable Forest Grove submarket.; Opportunity for rental income upside through utility bill back and storage locker rentals.; Mix of one and two‑bedroom units offering broad tenant appeal.
