1508 21st Place, Forest Grove, OR 97116 For Sale

Forest Terrace Apartments presents an attractive multifamily investment opportunity in the growing West Portland submarket of Forest Grove, Oregon. The property consists of well-maintained one- and two-bedroom apartment homes in a highly desirable residential location near Pacific University, downtown Forest Grove, major employers, retail amenities, and public transportation. The community offers residents a quiet neighborhood setting with convenient access to shopping, dining, and commuter routes.

The property has recently undergone updates and improvements, enhancing both curb appeal and tenant appeal while supporting long-term operational stability. Professionally managed and fully occupied, Forest Terrace benefits from a strong rental history and consistent tenant demand within a supply-constrained rental market. Current ownership has maintained the asset to provide reliable occupancy and steady cash flow performance.

Forest Terrace offers residents practical and attractive amenities including landscaped grounds, on-site laundry facilities, parking, and additional storage options. Unit layouts range from approximately 600 to 800 square feet and are designed to appeal to a broad renter demographic, including students, professionals, and long-term local residents.

Forest Grove continues to experience sustained rental demand driven by its proximity to the greater Portland metropolitan area, the presence of Pacific University, and continued regional employment growth. Compared to larger Portland-area markets, Forest Grove offers relative affordability while maintaining strong quality-of-life characteristics, supporting stable occupancy trends and future rental growth potential.

Overall, Forest Terrace Apartments represents a stabilized, income-producing multifamily asset with proven occupancy performance, professional management, recent property improvements, and long-term upside potential in a growing Oregon rental market.