MLS# 564483777 – 615 N Elliott Rd, Newberg, OR 97132 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Norris & Stevens Investment Real Estate Services.

Property Description

Description

10 Units

Status: Active

Year Built: 1996

Days on Website: 13

Elliott Estates is a well maintained townhome community located five blocks from George Fox University in Newberg, Oregon. The property contains ten townhomes with attached garages, washer/dryer hookups, plus additional land to potentially add more density. In-place rental rates range from $1,505 - $1,900 per month. Residents are charged a flat rate utility bill back for water and sewer and manage their own garbage pickup.

Property Details and Features

Building

Built in 1996

Storage:

Garage

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2

Property Access

Road Surface Type:

Concrete

Basement

Basement:

CrawlSpace

Expenses

Operating Expense:

$76,570

Exterior Features

Exterior Description:

WoodSiding

Heating

Heating:

WallHeater

Income

CAP Rate:

5.24

Gross Income:

$218,090

Gross Rent Multiplier:

12.38

Net Operating Income:

$141,520

Listing

Contract Status Change Date:

2025-02-12

Days On Market:

Last Transaction Date:

2025-02-12 15:44:14

List Price:

$2,700,000

Listing Contract Date:

2025-02-12

Listing Id:

564483777

Mls Status:

Active

Modification Timestamp:

2025-02-12 15:44:14

On Market Date:

2025-02-12

Rent Includes:

None

Standard Status:

Active

Location

MLS Area Major:

_156

County Or Parish:

Yamhill

Lot

Size Acres:

0.95

Size Range:

SqFt20000toAcres1

Size Square Feet:

41,382

Size:

20,000 SqFt to .99 Acres

Parking

Features:

Garage,OffStreet

Property

Number Of Units Total:

Zoning:

R-2

Roof

Roof:

Composition

Schools

High School:

Newberg

Middle Or Junior School:

Mountain View

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$9,183

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,655

Area:

962

Features:

Deck,Dishwasher,Disposal,WasherDryerHookup

Units Total:

2 total bathrooms

2 total bedroom

Unit Two

Actual Rent:

$1,785

Area:

1100

Features:

Deck,Dishwasher,Disposal,WasherDryerHookup

Units Total:

2 total bathrooms

3 total bedroom

Utilities

Fuel Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$2,700,000 -

615 N Elliott Rd Newberg , OR 97132

MLS Area Major: _156

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on February 25, 2025 11:43AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.