2321 21ST Pl, Forestgrove, OR 97116

Income-producing fourplex positioned in a strong rental corridor near Pacific University, major employers, shopping, and commuter routes. All units have been remodeled. This asset offers immediate cash flow with three of four units currently occupied and one vacant unit available for showings, providing flexibility for an owner-occupant or an investor looking to place a new tenant at market rent.

The 3 rented units are currently leased at $1,600 per month, with scheduled rent increases to $1,680 per month effective 9/1/2026, creating a clear path to increased revenue. Tenants are responsible for electric service, while ownership covers water, sewer, and garbage.

The property has benefited from consistent care and maintenance, supporting stable operations and tenant retention. New roof as of 2020, new gutters as of 2018. Updated PEX plumbing from meter to building. Driveway concrete was completed in August 2015.

The siding benefits from recent exterior painting completed in September of 2024. The unit layouts are designed to provide separation and functionality, making them appealing to a broad tenant base including university affiliates, local workforce housing renters, and long-term residents seeking convenient access to Forest Grove amenities.

Continued demand for rental housing in the area supports the property's long-term investment appeal. Whether expanding an existing portfolio or acquiring a first multifamily asset, this property presents an opportunity to secure a performing fourplex with built-in income growth already scheduled.

The vacant unit offers immediate access for inspections and showings while also allowing a new owner to evaluate rental strategy and future upside. Located in a market with limited multifamily inventory and consistent rental demand, this 4 plex delivers current income, future rent growth, and operational simplicity in one investment package.