D Street Apartments
Property Details
| Price | $875,000 |
|---|---|
| Building Size | 3,936 SF |
| Property Size | 0.30 Acres |
Supporting Documents
Description
- D Street Apartments is a well maintained multi-family asset consisting of one building and six units, located in the Northeast Neighbors neighborhood in Salem, Oregon. The property's unit mix is made up of all one-bedroom, one-bathroom units at approximately 656 square feet each. The property has ten paved off-street parking spaces secured by fence and gated entry, street parking available, a balcony/patio on every unit, a fenced backyard, and an on-site laundry room. This property is conveniently located near downtown Salem with nearby shopping and dining options. It is across the street from North Salem High School, Parrish Middle School, and newly built tennis courts due west built by North Salem High School.
- D Street Apartments is a well-positioned asset offering substantial upside to a new owner through increased rents and utility billbacks. Salem has proven to be a strong apartment market with continued upward pressure on rent growth and minimal new construction deliveries in the pipeline.
Highlights
- Well maintained in strong dynamic location
- Stable turn-key investment
- Professional management
- Upside on in-place rents
- Recently sealed/painted roof
- Energy efficient double pane windows
- Upgraded HardiePlank siding/recently painted
- Trex decking added to elevated walkway and three rear balconies
- New sewer line
- Newly restriped parking lot
Brokers
900 SW 5th Avenue, 17th Floor
Portland, OR 97204
info@norris-stevens.com
Phone: 503.223.3171
Fax: 503.228.2136
