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Mixed-Use

Troy Building

242 SE Washington St, Hillsboro, OR 97123

Listing Price: $1,300,000

Cap Rate
5.47%
Number of Units
7
Occupancy
91.0%
Price/Unit
$185,714
Price/Gross SF
$204.02
Gross SF
6,372

Investment Overview

The Troy Building is a mixed-use property with five (5) apartment units on the second floor and one (1) retail suite on the main floor. Originally constructed in the 1940's, the Troy Building underwent an extensive renovation in 2016, yet retains the charm of a vintage Hillsboro building. Recent updates include; new exterior paint, all new windows and roof repairs (roof was replaced in 2007). The ground-level interior features a refinished ceilings, new plumbing (PEX), electrical and updated bathrooms. Apartment units feature appealing hardwood floors. The two-bedroom unit offers a fireplace. The Troy Building has dedicated parking behind the building for resident and tenant use. The property features a common area on the second floor which was updated during the 2016 renovation with new carpet and paint. The property has space to accommodate onsite coin-operated laundry. The property presents an investor with the opportunity to improve the apartment units and increase return on an already stable property.

Investment Highlights

  • Newer Windows, Plumbing and Electric
  • Value Add Through Apartment Turns
  • Dedicated Off Street Parking
  • Retail Tenant on NNN Lease Through 2025
  • Central Hillsboro Location "Walkers Paradise"
  • Located on MAX Transit Line

Exclusively Listed By

Listing Price: $1,300,000

Cap Rate
5.47%
Number of Units
7
Occupancy
91.0%
Price/Unit
$185,714
Price/Gross SF
$204.02
Gross SF
6,372

Investment Highlights

  • Newer Windows, Plumbing and Electric
  • Value Add Through Apartment Turns
  • Dedicated Off Street Parking
  • Retail Tenant on NNN Lease Through 2025
  • Central Hillsboro Location "Walkers Paradise"
  • Located on MAX Transit Line

Investment Overview

The Troy Building is a mixed-use property with five (5) apartment units on the second floor and one (1) retail suite on the main floor. Originally constructed in the 1940's, the Troy Building underwent an extensive renovation in 2016, yet retains the charm of a vintage Hillsboro building. Recent updates include; new exterior paint, all new windows and roof repairs (roof was replaced in 2007). The ground-level interior features a refinished ceilings, new plumbing (PEX), electrical and updated bathrooms. Apartment units feature appealing hardwood floors. The two-bedroom unit offers a fireplace. The Troy Building has dedicated parking behind the building for resident and tenant use. The property features a common area on the second floor which was updated during the 2016 renovation with new carpet and paint. The property has space to accommodate onsite coin-operated laundry. The property presents an investor with the opportunity to improve the apartment units and increase return on an already stable property.

Exclusively Listed By

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