14 Units Sold in Mt. Angel by Bernard Gehret, Joseph Bernard Investment Real Estate

 

Sold! Fourteen units sold in Mt. Angel Oregon for $799,000.  The Engelheim Apartments, which translates in German as the “Angel Home”, consists of thirteen one bedroom, one bath units, and one studio.  The studio unit was not rented for many years.  The property has extensive parking and land, just off the main street in Mt. Angel, Oregon (home of Oregon’s Octoberfest!).

The Engelheim Apartments, Sold for $799,000

 

PROPERTY SUMMARY:

Price:  $799,000

Price Per Unit:  $57,071

Price Per Square Foot:  $116.40

Estimated Cap Rate (Actual):  5.13%

Estimated Cap Rate (Pro forma post rehab):  8%+

For more information on the sale, contact Bernard Gehret at Joseph Bernard Investment Real Estate in Portland, Oregon.  Bernard can be reached by phone at 503.546.9390, or by email at bgehret@josephbernard.net.  Bernard Gehret represented the buyer in the transaction, and Kelly Stafford of Home Sweet Home Realty represented the seller.