Courtesy: Weichert, Realtors on Main Street
971-371-3500
Introducing 2012-2016 Main Street, a standout mixed-use asset in the heart of Forest Grove, OR. This two-story building offers high-visibility ground-floor space occupied by a restaurant and adjacent office space, plus two thoughtfully laid-out residential units on the upper level. Situated just blocks from Pacific University, the property benefits from strong foot traffic, student demand, and easy access to city amenities.
Courtesy: Barry Investment Real Estate
503-593-9707
The Donna Place Apartments is an 8-unit multifamily asset located in the desirable Forest Grove submarket of Washington County. Originally constructed in 1972, the property features a low-density, single-level courtyard setting with a strong history of stable occupancy.The unit mix consists of (2) one-bedroom units and (6) two-bedroom units, offering broad tenant appeal within a quiet, residential setting. The units feature large floor plans, with most units having access to large private patios. The property currently generates solid in-place income supported by a mix of long-term residents and recently updated units. There is some near-term upside in the rents, along with additional revenue sources that can be further utilized – including the addition of Utility Bill back (not currently in place), and the implementation of storage locker rentals (currently on-site but not being rented *Potential for a new owner to renovate and capitalize on storage revenue*).Ownership has completed several capital improvements over time, including a new roof in 2017, and many ongoing interior updates at unit turnovers. The property has also benefited from the installation of new PEX water lines installed roughly 15-20 years ago, and new energy efficient vinyl windows & sliders throughout (installed roughly 15-20 years ago).The Donna Place Apartments offer investors the opportunity to acquire a well-maintained, stabilized asset with clear operational upside. A rare opportunity to invest in Forest Grove, one of Washington County’s most stable and desirable submarkets.Seller is a licensed real estate broker in the State of Oregon and is acting as the listing broker for the Property.
Forest Grove is located in Oregon. Forest Grove, Oregon has a population of 25,767. Forest Grove is more family-centric than the surrounding county with 39.36% of the households containing married families with children. The county average for households married with children is 36.2%.
The median household income in Forest Grove, Oregon is $73,499. The median household income for the surrounding county is $92,025 compared to the national median of $69,021. The median age of people living in Forest Grove is 35 years.
The average high temperature in July is 81.1 degrees, with an average low temperature in January of 34.3 degrees. The average rainfall is approximately 42.3 inches per year, with 3.5 inches of snow per year.
