- ADDRESS:
- 3124 19TH PL Forest Grove, OR 97116
- Price:
- $1,495,000
- Units:
- 8
- Acres:
- 0.36
- Unit 1:
-
1 Bed
1.0 Bath
$1,350/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 2:
-
1 Bed
1.0 Bath
$1,350/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 3:
-
2 Bed
1.0 Bath
$1,453/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 4:
-
2 Bed
1.0 Bath
$1,453/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 5:
-
2 Bed
1.0 Bath
$1,453/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 6:
-
2 Bed
1.0 Bath
$1,453/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 7:
-
2 Bed
1.0 Bath
$1,453/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - Unit 8:
-
2 Bed
1.0 Bath
$1,453/mo
Features: Dishwasher, Range, Refrigerator, Wood Floors - MLS#:
- 518419674
- Lot Size:
- 15,000 to 19,999 SqFt
- Type:
- Multi
- Zone:
- CC
- Yr Built:
- 1972
- Taxe/yr:
- $8,070.32
- County:
- Washington
- Status:
- Active
- Levels:
- 1
- Heat:
- Baseboard
- Elem:
- Joseph Gale
- Middle:
- Tom McCall
- High:
- Forest Grove
- Lot Desc:
- Level
- Area:
- Hillsboro, Forest Grove
- Courtesy of:
- Barry Investment Real Estate
- Remarks:
- The Donna Place Apartments is an 8-unit multifamily asset located in the desirable Forest Grove submarket of Washington County. Originally constructed in 1972, the property features a low-density, single-level courtyard setting with a strong history of stable occupancy.The unit mix consists of (2) one-bedroom units and (6) two-bedroom units, offering broad tenant appeal within a quiet, residential setting. The units feature large floor plans, with most units having access to large private patios. The property currently generates solid in-place income supported by a mix of long-term residents and recently updated units. There is some near-term upside in the rents, along with additional revenue sources that can be further utilized – including the addition of Utility Bill back (not currently in place), and the implementation of storage locker rentals (currently on-site but not being rented *Potential for a new owner to renovate and capitalize on storage revenue*).Ownership has completed several capital improvements over time, including a new roof in 2017, and many ongoing interior updates at unit turnovers. The property has also benefited from the installation of new PEX water lines installed roughly 15-20 years ago, and new energy efficient vinyl windows & sliders throughout (installed roughly 15-20 years ago).The Donna Place Apartments offer investors the opportunity to acquire a well-maintained, stabilized asset with clear operational upside. A rare opportunity to invest in Forest Grove, one of Washington County’s most stable and desirable submarkets.Seller is a licensed real estate broker in the State of Oregon and is acting as the listing broker for the Property.