March 25, 2021
NORRIS & STEVENS, INC. BROKERS $9.5M SALE OF RIVERBEND APARTMENTS IN SALEM, OR
Riverbend Viking, LLC recently completed the $9,500,000 purchase of Riverbend Apartments, a 48-unit, multi-family complex located at 1225, 1241, 1253 Riverbend Road NW in Salem, Oregon.
The property, which consists of three buildings at approximately 41,820 square feet, was delivered in the summer of 2020. Riverbend Apartments is made up of 1 bedroom/1 bathroom units at 770 square feet and 2 bedroom/2 bathroom units 1040 square feet. All the units have vinyl plank flooring, stainless steel appliances, washer/dryer units, cadet heating units, and ductless cooling. The apartment complex is located in West Salem off Wallace Road.
David C. Chatfield and Cameron Mercer with Portland-based Norris & Stevens, Inc. represented the Buyer in the transaction. Greg Goodenough of Premiere Property Group, LLC represented the Seller, 3030 Riverbend, LLC.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs around 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 6 million square feet of commercial space and 9,100 apartment units.