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For Sale

HEATHER APARTMENTS

3431 Hawthorne Ave NE | Salem, OR 97301

Property Details

Price$4,500,000
Building Size21,090 SF
Property Size0.97 Acres

Supporting Documents

Description

  • Heather Apartments is a well maintained multifamily asset consisting of three buildings and twenty-eight units, located in the Northgate neighborhood of Salem, Oregon. The property’s unit mix is made up of all large one-bedroom, one-bathroom units ranging from 750 – 768 square feet, each with their own private balcony or patio. Salem has proven to be a strong apartment market with continued upward pressure on rent growth and minimal new construction deliveries in the pipeline. Heather Apartments is a well-positioned asset with 15-20% upside on current in-place income.

Highlights

  • Stable turn-key investment
  • Professional management
  • Updated exterior envelope
  • Upside on in-place rents

Brokers

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