Parklawn Apartments
1522-1528 21st Place, Forest Grove, OR 97116
Description
Forest Grove holds true to its name — with sprawling forests and residential neighborhoods, this suburb is a wonderful place to call home. To the west, you’ll discover miles of woodlands and mountains as you near the Pacific.
Situated in the northwest corner of Oregon, Forest Grove lies 24 miles west of Portland. Though residents enjoy proximity to Oregon’s largest city, there is plenty to be seen right in Forest Grove! Situated in the center of town, Pacific University provides an educational hub for the city, along with the public schools in the Forest Grove School District.
A charming downtown district is one of the city’s greatest features. Picture-perfect storefronts are filled with local gems such as breweries, restaurants, and boutiques. A blend of cozy and modern apartments are spread throughout the city, along with beautiful single-family homes.
2021 Capital Expenditures:
- Replaced all front doors and locks
- New roof mansards
- Landscaping updated, large tree removal and pruning
- Bonus 220 sqft with build-out potential
- All new bathroom fans and lighting
- New property signage
- Trip hazard removal
Price reflects current roof condition, bids will be provided.
Financial Summary
- Pro Forma NOI: $82,092
- Pro Forma Cap Rate: 5.31%
Gallery