Building Details

Year Built 1989

Buildings 1

Stories 1

Units 8

Listing Agency: RE/MAX Equity Group j***@jasonkennedy.com Show Phone

Listed By: Jason Kennedy · License #200501139

Source: Crexi

Added: Jan 26 Changed: Aug 10 Last Checked: Aug 11 at 8:14PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Equity Group

Investment Insights

Based on property information with market context.

This multifamily property in Mount Angel, Oregon, features five units. Each unit includes three full bedrooms, washer and dryer hookups, and a private fenced backyard with storage units. Two of the five units have been updated. The property has a size of 4680 square feet and currently operates with RUBS (Ratio Utility Billing System) in effect. The property offers cash flow with potential for improvement. The location in Mount Angel typically experiences a limited supply of available rentals.

Key Highlights

• Existing cash flow with upside potential.
• All units have three full bedrooms.
• Each unit includes washer and dryer hookups.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$33,100

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.15%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$662,000 $662.0K

Cap Rate 7%

$472,857 $472.9K

Cap Rate 9%

$367,778 $367.8K

Market Conditions

NOI Build-Up for 4,680 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$64.0K $13.68/SF

− Vacancy

−$3.8K −$0.82/SF

EGI

$60.2K $12.86/SF

− OpEx

−$27.1K −$5.79/SF

NOI

$33.1K $7.07/SF

Area

Marion County, OR

Vacancy

6.00%

Lease Rate

$13.68 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$662,000

Cap Rate 7%

$472,857

Cap Rate 9%

$367,778

Alternative Uses

Best Use

Apartment 5plus

$472.9K

$413.8K – $551.7K (±1% cap)

NOI $33,100 @ 7.0% cap · market cap 3.15%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.10M

$963.1K – $1.28M (±1% cap)

NOI $77,046 @ 7.0% cap · market cap 7.34%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency (Bike/Boat/Book/etc) Store Law Firm Auto Parts Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

206

Businesses Nearby

Explore this area Business Placement

Demographics for 97362, OR

4,397

Population

1,377

Households

3.2

Avg Household Size

39

Median Age

19%

College-Educated

78%

High-School Grad

23.4 sq mi

ZIP Area

188

Density / Sq Mi

$62,813

Median Household Income

$37,177

Median Earnings

$1,199

Median Rent

$420,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Five-Unit Apartment Building

Mount Angel, OR 97362

$1,050,000

4,680 SF

View details

Remodeled Duplex with Garages

Mount Angel, OR 97362

$730,000

2,574 SF

View details

Remodeled Duplex with Private Patios

Mount Angel, OR 97362

$730,000

View details

Street-Level Office Condo Spaces

Mount Angel, OR 97362

$750,000

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Five-unit property with cash flow and upside potential.

Where is this apartment building located?

The property is located at 880 N Pershing St Mount Angel, OR.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: Existing cash flow with upside potential.; All units have three full bedrooms.; Each unit includes washer and dryer hookups.