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.

SOLD SUMMARY:

Price: $875,000

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

Apartments Sold in Gresham for $875,000