5-Unit Apartment Building with Fenced
For Sale
$1,050,000
880 N Pershing St, Mount Angel, OR 97362
Five three-bedroom residences include laundry hookups, private outdoor areas, and individual storage units.
Property Size4,680 SF
Price / SF$224.36
Days on Market86
Property Features for 880 N Pershing St
General Information
Standard status
Active
Size
4,680 SF
Property subtype
Multi-Family
Units
Unit Mix
5 x 3BR
Multifamily Units
5
Amenities
washer and dryer hookups
private fenced backyards
storage units
Building Details
Year Built
1989
Listing Agency:
RE/MAX Equity Group
Listed By:
Jason Kennedy · License #200501139
(503) 679-0554
Source:
Wisser
Added: Aug 5
Changed: Oct 25
Last Checked: Oct 5 at 8:28PM
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
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Investment Insights
Based on property information with market context.
This 5-unit apartment property was built in 1989 and contains 4,680 square feet. Each residence includes three full bedrooms, washer and dryer hookups, and a privately fenced backyard with its own storage unit. Three units have been updated, while work has started on a fourth. The building also features a newer roof and siding installed 5 years ago.
RUBS are in effect, providing an established utility reimbursement structure. The property is located in Mt. Angel, Oregon, and offers a consistent residential layout across all five units.
RUBS are in effect, providing an established utility reimbursement structure. The property is located in Mt. Angel, Oregon, and offers a consistent residential layout across all five units.
Key Highlights
- 5‑unit apartment property with 4,680 square feet
- All units include three full bedrooms and washer and dryer hookups
- Private fenced backyard and storage unit assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,100
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
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
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 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
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
NOI $77,046 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five three-bedroom residences include laundry hookups, private outdoor areas, and individual storage units.
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: 5‑unit apartment property with 4,680 square feet; All units include three full bedrooms and washer and dryer hookups; Private fenced backyard and storage unit assigned to each unit
