SOLD: Orchard Court Apartments, 50 Units, $9,000,000

July 20, 2022:  The Orchard Court Apartments, a beautiful 50 unit apartment complex in Keizer, Oregon, sold for $9,000,000.  The property consists of ten buildings, off-street parking, and most of the units have washers and dryers in the unit.  The property was efficiently managed by Crown Property Management in Salem, Oregon.

The property is uniquely located on a quiet cul-de-sac street, in a fantastic Keizer location.

 

TRANSACTION SUMMARY:

Price:  $9,000,000

Price per unit:  $180,000

Price per square foot:  $184

Estimated cap rate (actuals):  5.20%

Estimated cap rate (market rents):  6.51%

For more information on this transaction contact Bernard Gehret of Joseph Bernard Investment Real Estate:  503.546.9390, bgehret@josephbernard.net.  Bernard Gehret represented the sellers in the transaction, and Chris Hoeschen of Equitect Ltd. represented the buyer.

Bernard Gehret

Bernard Gehret

Joseph Bernard Investment Real Estate