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29817964
29817955

816-896 West E St, Vernonia, OR 97064 For Sale

JC
OR 200606025
Kidder Mathews Portland
Kidder Mathews Portland
Kidder Mathews Portland
Listed by Kidder Mathews Portland
$1,950,000
150 days on market
Updated 37 days ago

Vernonia Duplexes

Details
APN 4N4W04-BB-02101; 4N4W04-BB-02102; 4N4W04-BB-02103
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,840
Net Rentable (SqFt) 9,840
Units 6
Cap Rate 5.58%
NOI $108,760
Occupancy 100%
Pro-Forma Cap Rate 6.13%
Pro-Forma NOI $119,560
Price per SqFt $198
Broker Co-Op Yes
Class B
Year Built 2024
Buildings 3
Stories 1
Acreage 0.690
Investment Type Stabilized
Ground Lease No

Portfolio of 3 newly construction - fully leased - duplexes in Vernonia, OR

Marketing description

Built in 2024, the Vernonia Duplexes is a rare portfolio of three fully-occupied duplexes featuring large three-bedroom, two-bathroom units, located near downtown Vernonia where investment opportunities rarely hit the market.

Each unit features open floor plans with modern comfort, such as hard surface countertops, flush mount sinks, stainless steel appliances, air conditioning, garages, decks, and dual heat sources. The property is comprised of three tax lots presenting a buyer the opportunity to obtain residential financing for each duplex, providing a future exit opportunity to sell the duplexes individually.

The properties back to additional duplex lots, one currently under development and two additional vacant duplex parcels, which may also be available, offering potential expansion opportunities; please contact the broker for further details.

Located near the heart of Vernonia, just two minutes from downtown, the portfolio offers convenient access to parks, trails, local retailers, and dining while maintaining a peaceful neighborhood setting.

Downtown Vernonia provides grocery options, specialty shops, cafes, and locally owned restaurants that support everyday needs and casual dining. Nearby outdoor recreation includes Vernonia Lake, the Banks Vernonia State Trail (over 20 miles of multi-use trail), and numerous parks and forest lands offering year-round activities such as fishing, hiking, cycling, and equestrian use. Vernonia is characterized by its rural feel, natural beauty, and outdoor lifestyle, set among Douglas Fir forests, rolling hills, and waterways. Vernonia sits approximately 45 miles northwest of Portland, with direct access via Highway 47 and connecting highways, making it accessible for commuters, regional travelers, and visitors alike.

Vernonia, Oregon is a charming small city located just 44 miles from Portland in the Nehalem River Valley within the Northern Oregon Coast Range. The city offers a unique blend of rural character, natural beauty, and community oriented living.

Vernonia has a limited supply of rental properties, presenting a rare investment opportunity. The city is surrounded by forested hills, rivers, and open space, and is well known for its outdoor lifestyle and scenic setting, while remaining accessible to the Portland metropolitan area via Highway 47. The city features a walkable downtown core with locally owned retailers, grocery options, cafés, and restaurants that serve both residents and visitors.

Recreational amenities are a defining feature of the area, including Vernonia Lake, the Banks-Vernonia State Trail—spanning more than 20 miles of multi-use trail—and numerous parks and forest lands that support year-round activities such as fishing, hiking, cycling, and equestrian use. This balance of livability, affordability, and access to nature continues to attract long-term residents, families, and professionals seeking value outside major urban centers.

Located in Columbia County, the area is strategically positioned northwest of Portland and plays an important role in the broader regional economy, offering a mix of rural communities, industrial hubs, and recreational destinations. The county benefits from strong transportation connectivity through U.S. Highway 30, Highway 47, and proximity to Interstate 5, supporting both commuter access and commercial movement throughout the region.

Columbia County’s economy is supported by a diverse employment base that includes manufacturing, logistics, timber, port-related industries, healthcare, and services. Housing costs throughout the county remain highly affordable relative to the Portland metro area, contributing to steady residential demand and long-term growth potential. With its combination of economic stability, regional accessibility, and high quality of life, Columbia County continues to appeal to residents and investors seeking value-oriented opportunities within reach of a major metropolitan market.

Investment highlights

  • Fully-leased turnkey opportunity

  • 2024 construction with modern finishes

  • 100% occupancy in 2025

  • All large three-bed, two-bathroom units with master bedrooms and open floor plans

  • Dual heat sources (electric & propane); air conditioning

  • W/D hookups with tankless water heaters

  • Individual garages with additional off-street parking

  • Energy efficient vinyl siding and vinyl windows

  • Low-density layout with abundant green space

  • Excellent location near downtown Vernonia with shopping, retail, entertainment & outdoor recreation nearby

  • Additional duplex parcels may be available and can be built by the Seller

  • Multiple financing options, commercial or residential

  • Building Area ±8,496 SF (±2,832 SF each)

Listing Contacts

JC
OR 200606025
Kidder Mathews Portland
Kidder Mathews Portland
Kidder Mathews Portland
Listed by Kidder Mathews Portland

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$108,760.00
$9,063.33/mo

Valuation Metrics

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DSCR
5.58%
Cap Rate
5.58%
ROI

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