Exclusive Offering
Cornell Place Apartments
1120 NE 17th Ave, Hillsboro, OR 97124
A 12-unit established residential community in the heart of Silicon Forest.
Pricing
$2,000,000
$166,667 Per Unit
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Cornell Place Apartments, a 12-unit multifamily community located at 1120 NE 17th Ave in Hillsboro, Oregon. Built in 1973, the property features a highly desirable unit mix of four one-bedroom and eight two-bedroom apartments, appealing to a wide range of tenant demographics in one of the Portland metro's most established rental markets.
Full financials and property information are available on the Offering Memorandum.
Property Overview
A Twelve Unit Hillsboro Multifamily Asset
Cornell Place Apartments offers strong in-place cash flow supported by an existing RUBS program, providing immediate operational efficiency and expense recovery. The asset presents a clear value-add opportunity through continued interior renovations. Select units have been upgraded with luxury vinyl plank flooring and faux granite countertops, establishing a proven pathway to achieving rental premiums.
The property features mature landscaping, open greenspaces, and private patios or decks, contributing to an attractive living environment. Additional amenities include approximately 25 off-street parking spaces and a common laundry facility.
Unit Summary
Unit Mix
| Unit Type | # Units | Approx SF |
|---|---|---|
| 1 Bed / 1 Bath Flat | 4 | 750 |
| 2 Bed / 1 Bath Flat | 8 | 850 |
| Totals / Weighted Avg | 12 | 817 |
Approximately 9,800 rentable square feet across two buildings.
Gallery
Property Photos
Location
Hillsboro, Oregon
Cornell Place Apartments is strategically positioned near major employers such as Intel, Nike, and the broader Silicon Forest technology corridor. The property benefits from a deep and stable employment base that continues to drive population growth and rental demand.
The submarket features supply-constrained conditions and strong demographics: an estimated population of 14,564 within one mile, average household income of $117,293 within one mile, and 70.2% of the population within three miles holding a college education. Notable local employers include Intel, Genentech, Kaiser Permanente, Thermo Fisher Scientific, Qorvo, and OHSU Health Hillsboro Medical Center.
Downloads
Access the Full Offering Memorandum
Complete financials, rent roll, operating statement, market analysis, and additional property details are available upon execution of the Confidentiality Agreement.
Contact