Hallmark Apartments 9350 SW Hall Blvd 39 Unit Apartment Building $8,993,075 CAD ($230,592 CAD/Unit) 5.82% Cap Rate Tigard, OR 97223

» Cash-Flowing Asset with Dual Near-Term Upside
Hallmark presents an investor with an income-producing 39-unit community
offering two distinct paths to NOI growth: lease-up of current vacancy and
mark-to-market on in-place rents. Together, these levers position the asset for
meaningful revenue growth within the first 12-18 months of ownership without
reliance on heavy capital deployment.
» Centrally Located Tigard Submarket with Regional Employment Access
Hallmark Apartments is positioned in the heart of Tigard, one of the Portland
MSA’s most centrally located suburban submarkets, with direct access to
Highway 99W, I-217, and I-5. This connectivity places residents within a
short drive of the Washington Square office node, the Kruse Way corporate
corridor, and broader Beaverton and Lake Oswego employment centers,
while local TriMet bus service and the nearby Tigard Transit Center (WES
Commuter Rail) provide additional commuting flexibility.
» Walking Distance to Washington Square
The property sits less than a half-mile from Washington Square, one of the top-grossing shopping
malls per square foot in the United States and Oregon’s premier retail destination. Anchored by
Nordstrom, Macy’s, JCPenney, and Dick’s Sporting Goods with a Dick’s House of Sport opening
in 2027 the mall draws over 10 million annual visitors. Residents also have convenient access
to daily-needs retail including Fred Meyer and Target, plus a range of dining options along Hall
Boulevard and Pacific Highway.
» Functional Unit Mix of Flats and Townhomes
The 39-unit community features an attractive mix of 20 one-bedroom ground-floor flats (568
SF) and 19 two-bedroom, 1.5-bath townhomes (888 SF) on the second and third floors. The
townhome product is differentiated within the local rental market and appeals to small families
and roommate households, while the one-bedrooms serve the deep pool of single-occupant
renters drawn to Tigard’s value proposition.
» Recent Capital Investment in Building Envelope
Ownership has invested in long-term envelope durability through the installation of Hardie siding
on the rear and side elevations of the building, reducing near-term exterior capital requirements
for a new owner. Onsite amenities include a laundry facility, 32 covered carport spaces, and
31 open parking spaces a parking ratio well above market that supports leasing velocity and
resident retention.