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Cornell Place Apartments 1046 NE 17th Ave 18 Unit Apartment Building $3,150,000 ($175,000/Unit) 6.41% Cap Rate Hillsboro, OR 97124
Investment Highlights
- 100% Occupancy
- On site Laundry facilities
- Great Location
Executive Summary
Proforma CAP RATE 7.1%. Welcome to your next investment opportunity. This well-maintained 18-unit apartment complex is located in a desirable neighborhood with convenient access to shopping, major roadways, and daily amenities. The property is owner-managed and 100% occupied, reflecting stable operations. An on-site laundry room provides additional income. All rental agreements are month-to-month, except for one unit with approximately five months remaining on its lease. No rent increases have been implemented in the past 17 months, offering immediate upside potential for a new owner. Please do NOT disturb tenants. No site visits without a scheduled appointment.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.94 AC |
| Cap Rate | 6.41% | Building Size | 15,212 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.41 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 1.83/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | A-2, Hillsboro | ||
| Price | $3,150,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.41 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 15,212 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | A-2, Hillsboro |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Fireplace
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 672 |
| 2+1 | 16 | - | 830 |
| 3+2 | 1 | - | 1,124 |
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Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R0711536 | Total Assessment | $1,326,770 (2026) |
| Land Assessment | $0 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
R0711536
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$1,326,770 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
Cornell Place Apartments | 1046 NE 17th Ave