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Listed by Barry Investment Real Estate
$3,415,000
Est. payment /mo
18,516 SqFt
Active
1049 SE WALNUT ST Hillsboro, OR 97123
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 18,516 sqft
Price per Sqft $184
MLS Listing ID 540504192
HOA Y/N No
Year Built 1957
Annual Tax Amount $22,756
Tax Year 2025
Lot Size 1.200 Acres
Property Description
The Walnut Apartments represent a rare opportunity to acquire a 22-unit, single-level apartment community in the highly desirable Hillsboro submarket (Washington County), offering immediate operational value-add potential.The property features a low-density, courtyard-style layout spread across five separate buildings, an increasingly scarce product type that provides a differentiated living experience. The unit mix includes (4) one-bedroom, (16) two-bedroom, and (2) three-bedroom units, with a variety of floorplans and strong in-place amenities for this vintage. Units feature washer/dryer hookups in all two- and three-bedroom floorplans, private fenced patios, and dedicated carports or garages for each resident, features that continue to drive tenant demand and support rent growth.Additional income potential exists through on-site storage and a fully finished utility room (currently utilized as owner storage), providing a clear path to further revenue growth beyond the rents.The property has been well maintained with meaningful recent capital improvements, including energy-efficient vinyl windows (2016–2017), new electrical panels in all units (2023), new gutters (2025), and ongoing interior renovations, highlighted by higher-end upgrades to the three-bedroom units completed in 2023–2024.Current rents are estimated to be below market, presenting investors with the opportunity to implement a targeted renovation and management strategy to capture significant rental upside, or continue to benefit from organic rent growth in Hillsboro.Located just three blocks from the MAX Light Rail and near downtown Hillsboro, the property offers excellent access to major employment centers, services, and transportation. The Walnut Apartments are well-positioned in the path of continued growth and investment within the Hillsboro submarket, offering investors the opportunity to acquire a well-located asset with immediate upside and long-term appreciation potential.
Location
State OR
County Washington
Area _152
Zoning SCR-MD
Rooms
Basement None
Interior
Heating Baseboard, Forced Air
Exterior
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools W.L. Henry
Middle Schools South Meadows
High Schools Hillsboro
Others
Acceptable Financing CallListingAgent, Cash, Conventional
Listing Terms CallListingAgent, Cash, Conventional
NEARBY SCHOOL & BUSINESS
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