1520-1530 7th St NW - Apartments FOR SALE


Salem, OR 97304- West Salem
$850,000 USD
503-559-2694
1520-1530 7th St NW, Salem, OR for Sale
$850,000 USD
Apartments - FOR SALE
1/2
null | 6.03% Cap Rate

1520-1530 7th St NW
Salem, OR 97304
West Salem


HIGHLIGHTS

  • Under-market rents: Current rents trail market averages, providing near term upside as units turn over
  • Unit renovation potential: Interior updates can further drive rental premiums and tenant retention
  • Redevelopment flexibility: RM2 zoning supports additional density or future redevelopment strategies
  • Desirable location: The property offers quick access to downtown Salem, schools, shopping, and public transit
  • Desirable location: The property offers quick access to downtown Salem, schools, shopping, and public transit

OVERVIEW

This well-located West Salem 6-plex presents a compelling value-add investment opportunity with immediate income upside. The property consists of six 1 bed, 1 bath units across ˜4,000 SF on a single .24-acre parcel, zoned RM2 (Residential Multifamily 2). Built in 1972, the building has solid bones and is positioned for both cosmetic upgrades and long-term repositioning. With strong rental demand in this established West Salem neighborhood, investors can capture significant upside through renovations, rent adjustments, or a longterm hold with steady appreciation. This 6-plex provides a combination of in-place income with clear pathways to enhanced returns.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$328 USD /SF

# OF UNITS

6

PRICE/UNIT

$141,667

CAP RATE

6.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

RM2

APN/PARCEL ID

254757

ASK ABOUT THIS PROPERTY

Conrad VentiFirst Commercial Real EstateMore Info
503-559-2694

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Conrad VentiFirst Commercial Real EstateMore Info
503-559-2694

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.