10650 121St AveTigard, OR 97223

Westwood Green Apartments, a 53-unit apartment building in Tigard, Oregon, presents a compelling value-add opportunity. This established property, situated on a 4.56-acre lot at 10650 SW 121st Ave, boasts 40,047 square feet of space (39,531 net rentable) and is priced at $9,250,000 ($233/sq ft, $174,528/unit). Built in 1977, the eight buildings feature a mix of 18 one-bedroom, 25 two-bedroom, and 10 three-bedroom units, each equipped with modern conveniences like dishwashers and disposals, and private decks or patios. The property includes 80 parking spaces and benefits from recent capital improvements including new roofs, panels, windows, and sliders, as well as updated copper plumbing and wiring. Its prime location across from a Whole Foods-anchored retail center offers residents easy access to Washington Square Mall, Progress Ridge TownSquare, major highways (I-5 and Hwy 217), and numerous parks. The property's low-density layout, heated pool, and proximity to major employers (Nike, Intel) and excellent schools, combined with a 5.32% cap rate, make it an attractive investment. The surrounding area shows strong demographics, with a median household income of $96,000 within one mile and 58% homeowner occupancy. The property is zoned R12.