25-Unit Apartment Community with
For Sale
$3,585,000
Pending
3560 SW VISTA DR, Portland, OR 97225
Vista Hills offers 25 apartments with in-unit laundry in nearly all two-bedroom units and all three-bedroom units plus ample off-street parking.
Property Size22,016 SF
Lot Size1.03 Acres
Days on Market117
Property Features for 3560 SW VISTA DR
General Information
Standard status
Pending
Size
22,016 SF
Lot size
1.03 Acres
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
25
Taxes and HOA fees
Annual Taxes
$34,186
Building Details
Building Size
22,016 SF
Year Built
1964
Tenancy
Multi
Listing Agency:
Barry Investment Real Estate
Listed By:
Phillip Barry · License #200807134
(503) 593-9707
Source:
Eleeterealestate
Added: Jul 9
Changed: Oct 31
Last Checked: Nov 1 at 3:36PM
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
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Investment Insights
Based on property information with market context.
Vista Hills Apartments is a 25-unit multifamily community constructed in 1964, offering eight one-bedroom units, thirteen two-bedroom units, and four three-bedroom units. Seventeen of the twenty-five units are two- or three-bedroom floor plans, with in-unit washer/dryers in nearly all two-bedroom units and all three-bedroom units. The property also provides dedicated tenant storage lockers, a maintenance/shop area, ample off-street parking, and approximately 1,000 square feet of basement storage and utility space.
The community is located at 3560 SW Vista Drive in Southwest Portland, within unincorporated Washington County, with access to Downtown Portland, Beaverton, Highway 26, and major employment centers along the Sunset Corridor.
Vista Hills has been professionally operated, and the current opportunity includes continued lease-up and rent optimization, along with implementation of a utility reimbursement program (RUBS), which is not currently in place.
The community is located at 3560 SW Vista Drive in Southwest Portland, within unincorporated Washington County, with access to Downtown Portland, Beaverton, Highway 26, and major employment centers along the Sunset Corridor.
Vista Hills has been professionally operated, and the current opportunity includes continued lease-up and rent optimization, along with implementation of a utility reimbursement program (RUBS), which is not currently in place.
Key Highlights
- 25‑unit multifamily community on a 1.03‑acre site at 3560 SW Vista Drive, built in 1964
- Unit mix: 8 one‑bedroom, 13 two‑bedroom, and 4 three‑bedroom units
- Family‑oriented layouts: 17 of 25 units (68%) are two- or three‑bedroom floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$282,685
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,653,700
$5.7M
Cap Rate 7%
$4,038,357
$4.0M
Cap Rate 9%
$3,140,944
$3.1M
Market Conditions
NOI Build-Up for 22,016 SF
Gross rent
$541.6K $24.60/SF
− Vacancy
−$27.6K −$1.25/SF
EGI
$514.0K $23.35/SF
− OpEx
−$231.3K −$10.51/SF
NOI
$282.7K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,653,700
Cap Rate 7%
$4,038,357
Cap Rate 9%
$3,140,944
Alternative Uses
Best Use
Apartment 5plus
$4.04M
$3.53M – $4.71M
NOI $282,685 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.18M
$5.41M – $7.21M
NOI $432,785 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
25
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
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Business Placement
Demographics for 97225, OR
26,247
Population
12,219
Households
2.1
Avg Household Size
41
Median Age
62%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,917
Density / Sq Mi
$111,341
Median Household Income
$60,933
Median Earnings
$1,703
Median Rent
$709,500
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?
Apartment building - Vista Hills offers 25 apartments with in-unit laundry in nearly all two-bedroom units and all three-bedroom units plus ample off-street parking.
Where is this apartment building located?
The property is located at 3560 SW VISTA DR Portland, OR.
What is the asking price?
The asking price for this property is $3,585,000.
What are key features of this property?
This property features: 25‑unit multifamily community on a 1.03‑acre site at 3560 SW Vista Drive, built in 1964; Unit mix: 8 one‑bedroom, 13 two‑bedroom, and 4 three‑bedroom units; Family‑oriented layouts: 17 of 25 units (68%) are two- or three‑bedroom floor plans
