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Listed by Barry Investment Real Estate, Phillip Barry. (503) 593-9707

MLS Source logo

1049 SE WALNUT STHillsboro, OR 97123

Active
$3,415,000
18,516 Square Feet

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.


FACTS & FEATURES

  • Property Type:
    MultiFamily
  • Architectural Style:
  • Bedrooms:
  • Bathrooms:
  • Dwelling Size:
    18,516 Square Feet
  • Lot Size:
    1.20 Acres
  • Lot Description:
  • Stories:
    1
  • Year Built:
    1957
  • Interior Features:
  • Exterior Features:
  • Parking:

    Garage or Parking Spaces:
    Features: Carport, Garage
  • Area:
    _152
  • Views:
  • Schools:
    High School(s): Hillsboro
    Middle School(s): South Meadows
    Elementary School(s): W.L. Henry
  • HOA:
  • Senior Community:
  • Heating:
    Baseboard,ForcedAir
  • Cooling:
  • Appliances:
  • Fireplace:
    Fireplace(s):
    Features:
  • Accessibility:
  • Security Features:
  • Foundation:
    Slab
  • Roof:
    Composition

LOCATION


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Listing Office: Barry Investment Real Estate. Listing Agent: Phillip Barry. Listing ID: 540504192

Last Updated May 14, 2026 7:29 AM
Data last checked against RMLS on July 8, 2026 9:51 PM

The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Harcourts are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2026 RMLS™, Portland, Oregon. All information is deemed reliable but is not guaranteed and should be independently verified. Some properties which appear for sale on this website may subsequently have sold or may no longer be available.

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