Five-Unit Apartment
For Sale
$1,050,000
880 N PERSHING St, Mount Angel, OR 97362
MultiFamily, MtAngel, OR
Property Size4,680 SF
Lot Size0.43 Acres
Price / SF$224.36
Days on Market241
Property Features for 880 N PERSHING St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
15
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 12, Bathroom 1, Bedroom 3, Bedroom 11, Bedroom 10, Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 9, Bedroom 13, Bedroom 14, Bedroom 5, Bedroom 4, Bedroom 15, Bathroom 3, Bathroom 5, Bedroom 7, Bedroom 8
Elementary school
St Marys
Middle school
Mt Angel
High school
Kennedy
Directions
Pershing st
Subdivision
_170
Standard status
Active
APN
515575
Size
4,680 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Description
ACRES 0.43
Tax Annual Amount
6270
Legal Description
ACRES 0.43
Utilities
Heating system
Zoned
Amenities
washer/dryer hookups
private fenced backyards with storage units
Building Details
Year built
1989
Floors in Building
1
Number of units
5
Roof type
Composition
Listing Agency:
RE/MAX Equity Group · RE/MAX International
(503) 626-4600
Listed By:
Jason Kennedy · License #200501139
(503) 679-0554
Added: Jan 19
Changed: Sep 13
Last Checked: Sep 17 at 12:06PM
MLS# 726982799
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property contains five units within a 4,680-square-foot building constructed in 1989. Each unit has three full bedrooms, washer and dryer hookups, a fenced backyard, and an individual storage unit. Four of the five units have been updated, and the roof and siding were replaced 5 years ago.
The property occupies 0.43 acres at 880 N Pershing St in Mt. Angel, Oregon, within RM zoning. Heating is zoned, and the building has a composition roof. The five-unit configuration provides consistent unit layouts across the property, with outdoor space and storage assigned to each residence.
The property occupies 0.43 acres at 880 N Pershing St in Mt. Angel, Oregon, within RM zoning. Heating is zoned, and the building has a composition roof. The five-unit configuration provides consistent unit layouts across the property, with outdoor space and storage assigned to each residence.
Key Highlights
- Five‑unit apartment property with 4,680 square feet
- Each unit includes three full bedrooms
- Four of five units have been updated
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
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.
Property Analytics
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Current Use
Lease Details
5
Residential units
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five three-bedroom units offer washer and dryer hookups plus individually fenced outdoor areas with storage.
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: Five‑unit apartment property with 4,680 square feet; Each unit includes three full bedrooms; Four of five units have been updated
