SOLD! Gresham, Oregon: Seven units sold for $875,000 in Gresham, Oregon, the property features two buildings, a three unit flat building, and a four-unit, two-story building on the same tax lot.
Price per unit: $125,000
Estimated cap rate (current): 5.09%
Estimated cap rate (pro forma at market rents): 7.70%
Price per square foot: $131.81
Overall, the property was in “good” condition, and had potential to re-rent at market with updating the units upon turnover. For more information on the sale, call Bernard Gehret at 503.546.9390