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Multifamily

The Forest Grove Apartments

2838 19th Ave, Forest Grove, OR 97116

Listing Price: $4,100,000

Cap Rate
5.75%
Number of Units
10
Occupancy
95.0%
Price/Unit
$410,000

Investment Overview

The Forest Grove Apartments is a brand-new 10-unit apartment complex with high-end finishes located at 2838 19th Ave, Forest Grove, Oregon 97116. This project is currently under development with a projected completion date of June 2023. The Forest Grove Apartments totals 12,500 rentable square feet, is two stories in height with attached garages beneath each unit, and features three-bed/two-bath townhome floorplans exclusively. Finishes include modern touches with quartz countertops, stainless steel appliances, Luxury Vinyl Plank floors throughout. The floorplans are thoughtfully designed with functionality in mind. Rents are projected at $2,450 per month. As the property is new construction, the property is outside of the statewide rent cap for 15-years. This attractive, well-located apartment complex offers an investor a turn-key property well-suited for an investor looking for passive income. Forest Grove offers residences a serene environment without sacrificing access to urban amenities. The suburb boasts sprawling forests and residential neighborhoods that are ideal for individuals and families. With picturesque woodlands and mountains located to the west near the Pacific, residents can enjoy the best of both worlds. The city is home to Pacific University, which offers a range of educational opportunities, and the Forest Grove School District provides quality public schooling. The charming downtown district is another perk of living in Forest Grove, with its local breweries, restaurants, and boutiques.

Investment Highlights

  • Brand new modern townhome apartments featuring open floor plans and high-end finishes, delivering June 2023.
  • Premium amenities include stainless steel appliances, slab quartz countertops, LVP flooring, A/C, and in-unit washer/dryers.
  • Desirable Washington County suburban location provides tenants easy access to many of the areas major employers.

Exclusively Listed By

Financing By

Multifamily

The Forest Grove Apartments

Listing Price: $4,100,000

Cap Rate
5.75%
Number of Units
10
Occupancy
95.0%
Price/Unit
$410,000

Investment Highlights

  • Brand new modern townhome apartments featuring open floor plans and high-end finishes, delivering June 2023.
  • Premium amenities include stainless steel appliances, slab quartz countertops, LVP flooring, A/C, and in-unit washer/dryers.
  • Desirable Washington County suburban location provides tenants easy access to many of the areas major employers.

Investment Overview

The Forest Grove Apartments is a brand-new 10-unit apartment complex with high-end finishes located at 2838 19th Ave, Forest Grove, Oregon 97116. This project is currently under development with a projected completion date of June 2023. The Forest Grove Apartments totals 12,500 rentable square feet, is two stories in height with attached garages beneath each unit, and features three-bed/two-bath townhome floorplans exclusively. Finishes include modern touches with quartz countertops, stainless steel appliances, Luxury Vinyl Plank floors throughout. The floorplans are thoughtfully designed with functionality in mind. Rents are projected at $2,450 per month. As the property is new construction, the property is outside of the statewide rent cap for 15-years. This attractive, well-located apartment complex offers an investor a turn-key property well-suited for an investor looking for passive income. Forest Grove offers residences a serene environment without sacrificing access to urban amenities. The suburb boasts sprawling forests and residential neighborhoods that are ideal for individuals and families. With picturesque woodlands and mountains located to the west near the Pacific, residents can enjoy the best of both worlds. The city is home to Pacific University, which offers a range of educational opportunities, and the Forest Grove School District provides quality public schooling. The charming downtown district is another perk of living in Forest Grove, with its local breweries, restaurants, and boutiques.

Exclusively Listed By

Financing By

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