College Town Duplexes, FEE SIMPLE, ideal 1031
Multifamily | 5.18% CAP | 20 Units
Marketing description
An exceptional opportunity to acquire a premium, turnkey residential income portfolio in the highly desirable college town of Forest Grove, Oregon. Located at 1270 Pacific Avenue, this newer-construction (2021) portfolio consists of 10 fee-simple duplexes (20 units total) encompassing 26,787 square feet of rentable space. Situated just 13 blocks from Pacific University, the property boasts excellent street appeal, low maintenance overhead, and consistently strong rental demand.
With a total portfolio price of $6,300,000, this asset generates robust cash flow with a combined monthly income exceeding $42,000. Investors will benefit from highly attractive financing options, including an assumable loan at a favorable 5.45% interest rate covering approximately half of the portfolio's purchase price.
Investment highlights
- Favorable Assumable Debt: Buyers can capitalize on a rare 5.45% assumable interest rate loan, available for roughly 50% of the $6.3M portfolio purchase price, significantly enhancing cash-on-cash returns.
- Flexible Fee-Simple Ownership: Because each duplex is fee-simple, investors have the ultimate flexibility. Execute a strategic 1031 exchange or sell off individual duplexes in the future to maximize your tax advantages.
- Turnkey, Low-Maintenance Construction: Built in 2021, these modern units drastically reduce capital expenditure and maintenance costs. Properties feature durable fiber cement and lap siding, composition shingle roofs, central air/heat pumps, and tankless gas water heaters.
- Prime College Town Location: Strategically positioned just north of the TV Hwy / Hwy 47 intersection, the property is a short 13-block walk to Pacific University. It offers tenants seamless access to campus, downtown Forest Grove, and major commuting routes.
- Strong, Stable Income: The 10-property portfolio currently generates an impressive gross monthly income of $42,000+, supported by steady collegiate and local residential rental demand.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
