1536 E 3rd, Newberg

Details
Price$6,200,000
Units26
Size29,380 SF
Acres1.14
ZonedR-3
mapFlyer

(26) 3 bed, 1 bath 

5.9% Cap Rate on Actuals

Property has an assumable loan fixed at 3.70% until February 2025 and then 4.20% until February 2030 with a 1% prepay the entire time

Built in 1970, property features plank flooring, upstairs carpeting, granite kitchen counters, fiber optic internet, plenty of storage, spacious grounds and onsite laundry.

Cherry Hill’s 3-bedroom apartments are valued and important to Newberg, Oregon because they cater to the diverse needs of residents, offering ample space for families, roommates, or individuals seeking extra rooms for various purposes such as home offices, guest rooms, or hobby spaces, thus ensuring comfortable and flexible living arrangements in this vibrant and growing community.

Recent Updates:

  • 2018 – Drivelane asphalt was removed & replaced with 3” of new hot asphalt
  • 2021 – Asphalt crackfill, sealcoat and restripe
  • 2022 – Roofs fully torn off and replaced, sheathing replaced as needed. Partial siding replacement as needed. Full exterior repaint

Gabe Johansen is a member of the ownership entity and is a Licensed Principal Broker in the State of Oregon.

Gabe’s Other Properties