Investment Overview

Marcus & Millichap is pleased to exclusively represent the sale of Cornell Place Apartments, a 12-unit multifamily community located at 1120 NE 17th Ave in Hillsboro, Oregon. Built in 1973, the property features a highly desirable unit mix of four one-bedroom and eight two-bedroom apartments, appealing to a wide range of tenant demographics in one of the Portland metro’s most established rental markets. Cornell Place Apartments offers strong in-place cash flow supported by an existing RUBS program, providing immediate operational efficiency and expense recovery. The asset presents a clear value-add opportunity through continued interior renovations. Select units have been upgraded with luxury vinyl plank flooring and faux granite countertops, establishing a proven pathway to achieving rental premiums and improving overall performance. Recent capital improvements, including newer roofs, reduce near-term capital expenditure requirements and enhance ownership stability. The property features mature landscaping, open green spaces, and private patios or decks, contributing to an attractive living environment and strong tenant retention. Additional amenities include approximately 25 off-street parking spaces and a common laundry facility. Strategically positioned near major employers such as Intel, Nike, and the broader Silicon Forest technology corridor, the property benefits from a deep and stable employment base that continues to drive population growth and rental demand. Cornell Place Apartments represents a compelling opportunity combining stable income, operational efficiencies, and meaningful long-term upside potential.