Building Details

Building Size 4,680 SF

Year Built 1989

Listing Agency: RE/MAX EQUITY GROUP

Listed By: JASON KENNEDY · License #200501139 Show Phone

Source: Kw

Added: Jan 22 Changed: Oct 13 Last Checked: Oct 14 at 9:59PM

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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 / 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 (±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. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

4

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

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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?

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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 Mt 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.