441 Norway St NE - Apartments FOR SALE


Salem, OR 97301- Grant
$725,000 USD
800-845-3524
441 Norway St NE, Salem, OR for Sale
$725,000 USD
Apartments - FOR SALE
1/2
null | Request Cap Rate

441 Norway St NE
Salem, OR 97301
Grant


HIGHLIGHTS

  • High Occupancy Investment
  • Easy Access to I-5, downtown Salem, State Capitol and Willamette University
  • Potential for Owner Occupancy

OVERVIEW

This two-story duplex is being offered as part of a 13-property, 43-unit residential portfolio that is 98% leased and will be sold via Sealed Bid Auction on June 3, 2026. Built in 2009, the duplex is located in NE Salem near NE Broadway with convenient access to I-5, downtown Salem, the State Capitol, and Willamette University. Each unit offers 4 bedrooms, 2 bathrooms, and an attached garage, and has historically been leased to college students at $625 per bedroom ($2,500 per unit). Current one-year leases expire in June. The property includes a small fenced backyard and offers potential for owner occupancy. Projected 2026 gross income is $60,000, with real estate taxes of $6,783. Landlord pays water, sewer, trash, and landscaping.

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$164 USD /SF

# OF UNITS

2

PRICE/UNIT

$362,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Leased Duplex near State Capitol Complex

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2009

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,173 SF

ZONING

RM2

APN/PARCEL ID

584530

ASK ABOUT THIS PROPERTY

Sharon PeedeRealty Marketing NorthwestMore Info
800-845-3524

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Sharon PeedeRealty Marketing NorthwestMore Info
800-845-3524

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