2321 21ST Pl, Forest Grove, OR 97116

• 3,252 sqft

Property Description

Well-maintained and updated fourplex located in a strong rental corridor near Pacific University, major employers, shopping, and key commuter routes. This asset combines immediate cash flow with significant recent improvements, reducing near-term maintenance concerns for a new owner. All four units have been freshly remodeled, enhancing tenant appeal and supporting strong rental demand. Property upgrades include a new roof (2020), new gutters (2018), updated PEX plumbing from the meter to the building, concrete driveway replacement completed in August 2015, and exterior painting completed in September 2024. Each unit has been remodeled, and interior plumbing has been updated to PEX. Three of the four units are currently occupied. The vacant unit is available for showings and offers flexibility for an owner-occupant or investor to place a new tenant. The three occupied units are leased at $1,600 per month, with scheduled rent increases to $1,680 per month effective September 1, 2026. Tenants pay their own electric service, while ownership covers water, sewer, and garbage, contributing to straightforward property management. The thoughtfully designed unit layouts offer privacy and functionality, appealing to a broad tenant base that includes university affiliates, local workforce housing renters, and long-term residents seeking convenient access to Forest Grove amenities. Strong rental demand and limited multifamily inventory continue to support the area's long-term investment fundamentals. Whether expanding an existing portfolio or acquiring a first multifamily property, this fourplex presents an attractive opportunity to acquire a stabilized asset with substantial recent upgrades, immediate income, built-in rent growth, and future upside. The vacant unit provides immediate access for inspections, showings, and strategic leasing decisions, making this a versatile investment in one of Forest Grove's most consistently sought-after rental markets.

Listing Status:

Active

Date Added:

June 12, 2026

Data Last Updated:

June 27, 2026 at 7:44AM

Listing Office:

eXp Realty, LLC : 888-814-9613

Listing Agent:

Nick Shivers : 503-389-0821

MLS ID:

608596890

Interior

• Basement: Crawl space
• A/C: None
• Heating: Baseboard

Exterior

• General: Cedar
• Parking: CarportPavedParking spaces: 4

Construction

• Roofing: Composition
• General: Concrete perimeter

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Washington

Lot

• Zoning: RMHSTOKES ADDITION TO FOREST GROVEBLOCK 4LOT 5 & 6R747357

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.