Five-Unit Apartment
For Sale
$1,050,000
880 N PERSHING St, Mount Angel, OR 97362
MULTI_FAMILY - MtAngel, OR
Property Size4,680 SF
Lot Size0.43 Acres
Price / SF$224.36
Days on Market206
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, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 10, Bedroom 14, Bedroom 11, Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 5, Bedroom 9, Bedroom 6, Bathroom 4, Bathroom 5, Bedroom 4, Bedroom 8, Bedroom 12, Bedroom 15, Bedroom 13
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 and dryer hookups
private fenced backyards
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: Aug 13
Last Checked: Aug 13 at 9:06AM
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.
Five-unit apartment building on a 0.43-acre lot, built in 1989 and totaling 4,680 square feet. The property has a composition roof and zoned heating. The roof and siding were installed about five years ago.
Each unit includes three full bedrooms, along with washer and dryer hookups. Units also feature private fenced-in backyards, with storage units provided in each yard. The remarks note that three of the five units have been updated and a fourth unit update has begun.
Zoned RM, the property is located at 880 N Pershing St in Mt. Angel, Oregon.
Each unit includes three full bedrooms, along with washer and dryer hookups. Units also feature private fenced-in backyards, with storage units provided in each yard. The remarks note that three of the five units have been updated and a fourth unit update has begun.
Zoned RM, the property is located at 880 N Pershing St in Mt. Angel, Oregon.
Key Highlights
- 0.43‑acre lot with 4,680 SF apartment building
- Built in 1989 with composition roof and zoned heating
- Roof and siding installed about 5 years ago
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - RM-zoned five-unit building with three-bedroom units, washer and dryer hookups, and private fenced backyards 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: 0.43‑acre lot with 4,680 SF apartment building; Built in 1989 with composition roof and zoned heating; Roof and siding installed about 5 years ago
