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Listed by eXp Realty, LLC • 503-389-0821
$975,000
Est. payment /mo
3,252 SqFt
New
2321 21ST PL Forest Grove, OR 97116
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,252 sqft
Price per Sqft $299
MLS Listing ID 608596890
Year Built 1963
Annual Tax Amount $5,485
Tax Year 2025
Lot Size 9,583 Sqft
Property Description
Well-maintained and updated fourplex located in a strong rental corridor near Pacific University, major employers, shopping, and key commuter routes. This asset combines immediate cash flow with significant recent improvements, reducing near-term maintenance concerns for a new owner. All four units have been freshly remodeled, enhancing tenant appeal and supporting strong rental demand. Property upgrades include a new roof (2020), new gutters (2018), updated PEX plumbing from the meter to the building, concrete driveway replacement completed in August 2015, and exterior painting completed in September 2024. Each unit has been remodeled, and interior plumbing has been updated to PEX. Three of the four units are currently occupied. The vacant unit is available for showings and offers flexibility for an owner-occupant or investor to place a new tenant. The three occupied units are leased at $1,600 per month, with scheduled rent increases to $1,680 per month effective September 1, 2026. Tenants pay their own electric service, while ownership covers water, sewer, and garbage, contributing to straightforward property management. The thoughtfully designed unit layouts offer privacy and functionality, appealing to a broad tenant base that includes university affiliates, local workforce housing renters, and long-term residents seeking convenient access to Forest Grove amenities. Strong rental demand and limited multifamily inventory continue to support the area's long-term investment fundamentals. Whether expanding an existing portfolio or acquiring a first multifamily property, this fourplex presents an attractive opportunity to acquire a stabilized asset with substantial recent upgrades, immediate income, built-in rent growth, and future upside. The vacant unit provides immediate access for inspections, showings, and strategic leasing decisions, making this a versatile investment in one of Forest Grove's most consistently sought-after rental markets.
Location
State OR
County Washington
Area _152
Zoning RMH
Rooms
Basement Crawl Space
Interior
Heating Baseboard
Cooling None
Exterior
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Harvey Clark
Middle Schools Tom Mccall
High Schools Forest Grove
Others
Acceptable Financing Cash, Conventional, FHA, VALoan
Listing Terms Cash, Conventional, FHA, VALoan
NEARBY SCHOOL & BUSINESS