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.
Well maintained in strong dynamic location
Stable turn-key investment
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