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Sarita Dua

OPERATOR | The AskSarita Team | Keller Williams Sunset Corridor

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1049 SE Walnut St , Hillsboro, OR 97123
$3,415,000
Est. Payment: $17,171.19/mo
42 Bed
22 Bath
18516 Sqft
Status: active | Days on site: 70
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House Description

The Walnut Apartments represent a rare opportunity to acquire a 22-unit, single-level apartment community in the highly desirable Hillsboro submarket (Washington County), offering immediate operational value-add potential.The property features a low-density, courtyard-style layout spread across five separate buildings, an increasingly scarce product type that provides a differentiated living experience. The unit mix includes (4) one-bedroom, (16) two-bedroom, and (2) three-bedroom units, with a variety of floorplans and strong in-place amenities for this vintage. Units feature washer/dryer hookups in all two- and three-bedroom floorplans, private fenced patios, and dedicated carports or garages for each resident, features that continue to drive tenant demand and support rent growth.Additional income potential exists through on-site storage and a fully finished utility room (currently utilized as owner storage), providing a clear path to further revenue growth beyond the rents.The property has been well maintained with meaningful recent capital improvements, including energy-efficient vinyl windows (2016–2017), new electrical panels in all units (2023), new gutters (2025), and ongoing interior renovations, highlighted by higher-end upgrades to the three-bedroom units completed in 2023–2024.Current rents are estimated to be below market, presenting investors with the opportunity to implement a targeted renovation and management strategy to capture significant rental upside, or continue to benefit from organic rent growth in Hillsboro.Located just three blocks from the MAX Light Rail and near downtown Hillsboro, the property offers excellent access to major employment centers, services, and transportation. The Walnut Apartments are well-positioned in the path of continued growth and investment within the Hillsboro submarket, offering investors the opportunity to acquire a well-located asset with immediate upside and long-term appreciation potential.

Highlights

Listed by Phillip Barry , 503-593-9707 Barry Investment Real Estate , 503-593-9707. Portland Regional Multiple Listing Service mls logo

Property Type

Multi-Family

Lot/Acreage
1.2

Year Built

1957

County

Washington

Area

152 - Hillsboro, Forest Grove

Listing ID

540504192

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:42
  • Bathrooms:22
  • Full Bathrooms:22
Other:Public Water

Exterior Features

Lot:Level
Zoning:SCR-MD
Roof:Composition
Sewer:Public Sewer
Parking Features:Carport,Garage
Principal Interest
$17,171
Taxes
$1,896

Home Price

$3,415,000

Loan Details

30 yrs
6.446%

Down Payment

20%
$683,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$17,171.19

Principal

Taxes

Principal Taxes HOA Total
Monthly $17,171.19 $1,896.33 $0.00 $19,067.52
Yearly $206,054.29 $22,756.00 $0.00 $228,810.29
Total $6,181,628.75 $682,680.00 $0.00 $6,864,308.75

Today's Rates

30 Year

6.45%

20 Year

6.23%

15 Year

5.73%

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Market insight data is pulled from the same city as the listing being viewed (Hillsboro, OR).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.


The data relating to real estate for sale on this web site comes in part from the Portland Regional Multiple Listing Service. Real estate listings held by brokerage firms other than The AskSarita Team | Keller Williams Sunset Corridor are marked with the IDX logo and detailed information about them includes the name of the listing brokers.

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Data last updated: 2026-07-24T01:19:15.000Z

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