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Carrie Warlaumont

carriewarlaumont@epique.me +1(503) 803-3812

Listed by eXp Realty, LLC • 503-389-0821

$ 975,000

Est. payment | -/mo

3,252 SqFt

Save

$ 975,000

Est. payment | -/mo

Save

3,252 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,252 sqft

Price per Sqft $299

MLS Listing ID 608596890

Year Built 1963

Annual Tax Amount $5,485

Tax Year 2025

Lot Size 9,583 Sqft

Property Description

Well-maintained and updated fourplex located in a strong rental corridor near Pacific University, major employers, shopping, and key commuter routes. This asset combines immediate cash flow with significant recent improvements, reducing near-term maintenance concerns for a new owner. All four units have been freshly remodeled, enhancing tenant appeal and supporting strong rental demand. Property upgrades include a new roof (2020), new gutters (2018), updated PEX plumbing from the meter to the building, concrete driveway replacement completed in August 2015, and exterior painting completed in September 2024. Each unit has been remodeled, and interior plumbing has been updated to PEX. Three of the four units are currently occupied. The vacant unit is available for showings and offers flexibility for an owner-occupant or investor to place a new tenant. The three occupied units are leased at $1,600 per month, with scheduled rent increases to $1,680 per month effective September 1, 2026. Tenants pay their own electric service, while ownership covers water, sewer, and garbage, contributing to straightforward property management. The thoughtfully designed unit layouts offer privacy and functionality, appealing to a broad tenant base that includes university affiliates, local workforce housing renters, and long-term residents seeking convenient access to Forest Grove amenities. Strong rental demand and limited multifamily inventory continue to support the area's long-term investment fundamentals. Whether expanding an existing portfolio or acquiring a first multifamily property, this fourplex presents an attractive opportunity to acquire a stabilized asset with substantial recent upgrades, immediate income, built-in rent growth, and future upside. The vacant unit provides immediate access for inspections, showings, and strategic leasing decisions, making this a versatile investment in one of Forest Grove's most consistently sought-after rental markets.

Location

State OR

County Washington

Area _152

Zoning RMH

Rooms

Basement Crawl Space

Interior

Heating Baseboard

Cooling None

Exterior

Roof Type Composition

Garage No

Building

Lot Description Level

Story 1

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 1

Schools

Elementary Schools Harvey Clark

Middle Schools Tom Mccall

High Schools Forest Grove

Others

Acceptable Financing Cash, Conventional, FHA, VALoan

Listing Terms Cash, Conventional, FHA, VALoan

Regional Multiple Listing Service (RMLS)

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(503) 803-3812

carriewarlaumont@epique.me

1026 SW Greenburg Rd Fl 4, Portland, OR, 97223

2321 21ST PL Forest Grove, OR 97116