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Hallmark Apartments 9350 SW Hall Blvd 39 Unit Apartment Building $6,500,000 ($166,667/Unit) 5.82% Cap Rate Tigard, OR 97223
Executive Summary
HFO Investment Real Estate is pleased to present the opportunity to acquire Hallmark Apartments, a 39-unit multifamily community located at 9350 SW Hall Blvd in the heart of Tigard, Oregon. Built in 1978 and offered at $6,500,000, the property features an attractive mix of 20 one-bedroom ground-floor flats and 19 two-bedroom, 1.5-bath townhomes, with recent ownership investment in long-term envelope durability through Hardie siding installation. The asset presents an income-producing investment with two distinct paths to near-term NOI growth lease-up of current vacancy and mark-to-market on in-place rents without reliance on heavy capital deployment. Situated in one of the Portland MSA’s most centrally located suburban submarkets, Hallmark offers direct access to Highway 99W, I-217, and I-5, placing residents within a short drive of the Washington Square office node, the Kruse Way corporate corridor, and broader Beaverton and Lake Oswego employment centers, all while sitting less than a half-mile from Washington Square one of the top-grossing shopping malls per square foot in the United States.
Property Facts
| Price | $6,500,000 | Building Class | C |
| Price Per Unit | $166,667 | Lot Size | 1.85 AC |
| Sale Type | Investment | Building Size | 31,280 SF |
| Cap Rate | 5.82% | Average Occupancy | 100% |
| No. Units | 39 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R24, Tigard | ||
| Price | $6,500,000 |
| Price Per Unit | $166,667 |
| Sale Type | Investment |
| Cap Rate | 5.82% |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.85 AC |
| Building Size | 31,280 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1978 |
| Parking Ratio | 1.55/1,000 SF |
| Zoning | R24, Tigard |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | 568 |
| 2+1.5 | 20 | - | 888 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | R0237899 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,464,550 |
Property Taxes
Parcel Number
R0237899
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,464,550
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