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Q1 Apartments 421 NE 80th Ave 72 Unit Apartment Building For Sale 5.03% Cap Rate Hillsboro, OR 97006
Executive Summary
» New Construction Asset with Limited Near-Term Capital Needs.
Q1 Apartments represents a new construction multifamily community, offering
investors the opportunity to acquire a modern asset with minimal deferred
maintenance and reduced capital expenditure requirements. The property’s
contemporary systems, building components, and unit finishes provide longterm
operational stability and competitive positioning within the Hillsboro rental
market. Building structure and roof are still under warranty.
» Desirable Large-Format 2BR Floor Plans with Broad Tenant Appeal.
The property features spacious two-bedroom, two-bathroom units that cater
to today’s renter preferences for flexible living arrangements, including workfrom-
home capability and shared living. Larger floor plans differentiate Q1
Apartments from competing suburban assets, attracting higher-quality tenants
and supporting long-term occupancy stability.
» Suburban Asset Positioned to Capture Strong Workforce Housing Demand.
Q1 Apartments offers larger unit sizes in a suburban setting, providing residents
with greater livability and value compared to smaller urban alternatives. This
positioning aligns with ongoing renter migration toward suburban locations
offering improved space, accessibility, and quality of life.
» Operational Upside Through Rent Growth & Expense Optimization.
The property presents an opportunity to further enhance operational
performance through strategic rent adjustments and continued professional
management. Investors can benefit from Hillsboro’s strong rental demand
fundamentals, supporting ongoing revenue growth while maintaining
competitive occupancy levels.
» Strategically Located Near Intel & Major Tech Employers.
The property benefits from proximity to Hillsboro’s Silicon Forest, including
major employers such as Intel, Genentech, Nike, and numerous semiconductor
and advanced manufacturing firms. This employment base provides a deep
and stable tenant pool supported by high-wage professional and technical
jobs.
» In One of Portland Metro’s Fastest-Growing Submarkets.
Q1 Apartments benefits from strong surrounding demographics, including
growing population, rising household incomes, and continued economic
expansion driven by the technology sector. Residents enjoy convenient access
to Highway 26, regional transit, retail amenities, and major employment hubs,
supporting long-term rental demand and asset appreciation.
Q1 Apartments represents a new construction multifamily community, offering
investors the opportunity to acquire a modern asset with minimal deferred
maintenance and reduced capital expenditure requirements. The property’s
contemporary systems, building components, and unit finishes provide longterm
operational stability and competitive positioning within the Hillsboro rental
market. Building structure and roof are still under warranty.
» Desirable Large-Format 2BR Floor Plans with Broad Tenant Appeal.
The property features spacious two-bedroom, two-bathroom units that cater
to today’s renter preferences for flexible living arrangements, including workfrom-
home capability and shared living. Larger floor plans differentiate Q1
Apartments from competing suburban assets, attracting higher-quality tenants
and supporting long-term occupancy stability.
» Suburban Asset Positioned to Capture Strong Workforce Housing Demand.
Q1 Apartments offers larger unit sizes in a suburban setting, providing residents
with greater livability and value compared to smaller urban alternatives. This
positioning aligns with ongoing renter migration toward suburban locations
offering improved space, accessibility, and quality of life.
» Operational Upside Through Rent Growth & Expense Optimization.
The property presents an opportunity to further enhance operational
performance through strategic rent adjustments and continued professional
management. Investors can benefit from Hillsboro’s strong rental demand
fundamentals, supporting ongoing revenue growth while maintaining
competitive occupancy levels.
» Strategically Located Near Intel & Major Tech Employers.
The property benefits from proximity to Hillsboro’s Silicon Forest, including
major employers such as Intel, Genentech, Nike, and numerous semiconductor
and advanced manufacturing firms. This employment base provides a deep
and stable tenant pool supported by high-wage professional and technical
jobs.
» In One of Portland Metro’s Fastest-Growing Submarkets.
Q1 Apartments benefits from strong surrounding demographics, including
growing population, rising household incomes, and continued economic
expansion driven by the technology sector. Residents enjoy convenient access
to Highway 26, regional transit, retail amenities, and major employment hubs,
supporting long-term rental demand and asset appreciation.
Property Facts
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.03% | Lot Size | 1.43 AC |
| No. Units | 72 | Building Size | 66,513 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2024 |
| Apartment Style | Garden | ||
| Zoning | SCR-MD | ||
| Sale Type | Investment |
| Cap Rate | 5.03% |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.43 AC |
| Building Size | 66,513 SF |
| No. Stories | 3 |
| Year Built | 2024 |
| Zoning | SCR-MD |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Patio
- Smoke Free
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
- Bicycle Storage
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 765 |
| 2+1 | 3 | - | 765 |
| 2+2 | 67 | - | 829 - 920 |
Bike Score®
Very Bikeable (78)
Property Taxes
| Parcel Number | R2214961 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $6,228,210 |
Property Taxes
Parcel Number
R2214961
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$6,228,210
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Q1 Apartments | 421 NE 80th Ave
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