Multifamily Property With Two
For Sale
$937,000
7006 NE Elm ST, Hillsboro, OR 97124
Two separate residences combine a remodeled cottage with a larger traditional home in a private neighborhood setting.
Property Size3,079 SF
Price / SF$304.32
Days on Market85
Property Features for 7006 NE Elm ST
General Information
Standard status
Active
Size
3,079 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2005
Buildings
2
Listing Agency:
RE/MAX Equity Group
Listed By:
The Reger Group
(503) 893-2022
Source:
Searchpnwhouses
Added: Jul 22
Changed: Oct 13
Last Checked: Oct 12 at 7:13PM
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 RE/MAX Equity Group
Investment Insights
Based on property information with market context.
This multifamily property includes two residences on one parcel. The original one-level cottage dates to 1935 and provides 916 square feet with two bedrooms following a full remodel. A second, fully permitted home completed in 2005 offers 3,079 square feet across two stories, with four bedrooms and three full bathrooms.
The larger residence features exposed beams on both floors, tall wainscoting, and a custom fireplace with built-in cabinetry. A maintained yard and garden create space for outdoor use, entertaining, and gardening. The property is located at 7006 NE Elm ST in Hillsboro, Oregon, within a quiet private neighborhood.
The larger residence features exposed beams on both floors, tall wainscoting, and a custom fireplace with built-in cabinetry. A maintained yard and garden create space for outdoor use, entertaining, and gardening. The property is located at 7006 NE Elm ST in Hillsboro, Oregon, within a quiet private neighborhood.
Key Highlights
- Two residences on one property at 7006 NE Elm ST, Hillsboro, OR 97124
- 1935 cottage offers 916 square feet, 2 bedrooms, and one level
- Fully remodeled original residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,748
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$814,960
$815.0K
Cap Rate 7%
$582,114
$582.1K
Cap Rate 9%
$452,756
$452.8K
Market Conditions
NOI Build-Up for 3,079 SF
Gross rent
$79.1K $25.68/SF
− Vacancy
−$5.0K −$1.62/SF
EGI
$74.1K $24.06/SF
− OpEx
−$33.3K −$10.83/SF
NOI
$40.7K $13.23/SF
Area
Hillsboro, OR
Vacancy
6.30%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$814,960
Cap Rate 7%
$582,114
Cap Rate 9%
$452,756
Alternative Uses
Best Use
Apartment 5plus
$582.1K
$509.4K – $679.1K
NOI $40,748 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$826.8K
$723.5K – $964.6K
NOI $57,878 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 97124, OR
53,487
Population
22,176
Households
2.4
Avg Household Size
35
Median Age
47%
College-Educated
93%
High-School Grad
45.1 sq mi
ZIP Area
1,186
Density / Sq Mi
$107,063
Median Household Income
$54,463
Median Earnings
$1,918
Median Rent
$518,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences combine a remodeled cottage with a larger traditional home in a private neighborhood setting.
Where is this multifamily property located?
The property is located at 7006 NE Elm ST Hillsboro, OR.
What is the asking price?
The asking price for this property is $937,000.
What are key features of this property?
This property features: Two residences on one property at 7006 NE Elm ST, Hillsboro, OR 97124; 1935 cottage offers 916 square feet, 2 bedrooms, and one level; Fully remodeled original residence
