Turn-Key Duplex
340 Northwest Connell Avenue Hillsboro, OR 97124
340 Northwest Connell Avenue, Hillsboro, OR, 97124
$550,000
For Sale
$550,000
Well-maintained duplex with tenants paying all utilities and recent updates including 2024 exterior paint and unit 338 appliances.
Property Size2,160 SF
Price / SF$254.63
Days on Market152
Property Features for 340 Northwest Connell Avenue
General Information
- Standard status
- Active
- Size
- 2,160 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2001
Listing agency
Keller Williams Realty Professionals
(503) 780-5625
Listed by
Andrew Berlinberg · License #200201085
(503) 780-5625
Source
Compass
Added: Feb 20 Updated: Jul 22 at 4:33AM Checked: Jul 22 at 4:33AM
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 Keller Williams Realty Professionals
Investment Insights
Based on property information with market context.
This turn-key duplex investment generates over $41,000 in annual rents, with tenants paying all utilities. The property is described as well-maintained, with new exterior paint completed in 2024. Unit 338 includes newly installed dishwasher, stove, washer, and dryer. The duplex features modern floor plans with an open kitchen and living space, durable laminate flooring on main levels, vinyl flooring in bathrooms, and carpet on the upstairs levels.
The property is set back from the street and is easily walkable to coffee, restaurants, and pubs in downtown Hillsboro.
A Home Energy Score of 7 is noted in the provided energy report information.
The property is set back from the street and is easily walkable to coffee, restaurants, and pubs in downtown Hillsboro.
A Home Energy Score of 7 is noted in the provided energy report information.
Key Highlights
- Duplex built in 2001 with 2 stories and a crawl space foundation (concrete perimeter).
- Tenants pay all utilities; property generates over $41,000 in annual rents.
- New exterior paint completed in 2024.
Local Financial Insights For Multifamily LT 5
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 | $49.0k | $22.68 |
| − Vacancy | −$2.6k | −$1.22 |
| EGI | $46.3k | $21.46 |
| − OpEx | −$13.9k | −$6.44 |
| NOI | $32.4k | $15.02 |
2,160 SF · lease $22.68/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$463.4K
$405.5K – $540.7K
NOI $32,440 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$408.4K
$357.3K – $476.4K
NOI $28,586 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$580.0K
$507.5K – $676.7K
NOI $40,603 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained duplex with tenants paying all utilities and recent updates including 2024 exterior paint and unit 338 appliances.
Where is this duplex located?
The property is located at 340 Northwest Connell Avenue Hillsboro, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex built in 2001 with 2 stories and a crawl space foundation (concrete perimeter).; Tenants pay all utilities; property generates over $41,000 in annual rents.; New exterior paint completed in 2024.
