1049 SE WALNUT ST, Hillsboro, OR 97123
- $3,415,000
- 18,516
- SqFt
- List Price
- $3,415,000
- Days on Market
- 76
- MLS#
- 540504192
- Property Type
- Multifamily
- Sqft. of Residence
- 18,516
- Lot Size
- 1 to 2.99 Acres
- Region
- Hillsboro, Forest Grove
- Status
- ACTIVE
Property 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.
/u.realgeeks.media/smiragroup/logo-icon-lg.png){kind=icon}
Additional Information
- Tax Amount
- $22,756
- Year Built
- 1957
- High School
- Hillsboro
- Elementary School
- W.L. Henry
- Middle School
- South Meadows
- Acres
- 1.20
- Living Area
- 18,516
- Stories
- 1
- Terms
- Call Listing Agent, Cash, Conventional
- Fuel Description
- Electricity
- Heating Description
- Baseboard, Forced Air
- Hoa Rent Includes
- Sewer, Trash Collection, Water
- Exterior Description
- Brick, Wood Siding
- Roof Type
- Composition
- Sewer Description
- Public Sewer
- Parking
- Carport, Garage
- Parking Description
- Carport, Garage
- Road Surface
- Paved
- Number Of Units Total
- 22
- Unit Type One Baths Total
- 1
- Unit Type One Beds Total
- 1
- Unit Type One Rent
- 1348
- Unit Type One Sq Ft
- 528
- Unit Type One Units Total
- 4
- Unit Type Two Baths Total
- 1
- Unit Type Two Beds Total
- 2
- Unit Type Two Units Total
- 8
- Unit Type Three Baths Total
- 1
- Unit Type Three Beds Total
- 2
- Unit Type Three Rent
- 1458
- Unit Type Three Sq Ft
- 748
- Unit Type Three Units Total
- 8
- Unit Type Four Baths Total
- 1
- Unit Type Four Beds Total
- 3
- Unit Type Four Rent
- 1538
- Unit Type Four Sq Ft
- 1000
- Unit Type Four Units Total
- 2
Mortgage Calculator
Listing courtesy of Barry Investment Real Estate.
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.