805-875 Gerth Ave NW - Apartments FOR SALE


Salem, OR 97304- West Salem
$1,380,000 USD
503-241-5541
805-875 Gerth Ave NW, Salem, OR for Sale
$1,380,000 USD
Apartments - FOR SALE
1/23
null | 6.4% Cap Rate

805-875 Gerth Ave NW
Salem, OR 97304
West Salem


HIGHLIGHTS

  • Recently upgraded interiors with modern appliances
  • Roof and gutters replaced in 2021 for reduced capital risk
  • Strong rental demand supported by nearby schools and employers
  • Two dedicated parking spaces per unit plus on-site laundry
  • Minutes from downtown Salem and major transportation routes

OVERVIEW

Introducing the apartments at 805 Gerth Avenue NW, a 8-unit, two-story complex in West Salem, OR. The property features updated interiors, with most units receiving new kitchen appliances and water heaters. Units are equipped with dishwahers and disposals. Additionally each unit has two designated parking spaces. The roof and gutters were fully replaced in 2021. Located near family oriented amenities like Harritt Elementary, Walker Middle School, and West Salem High School, this property offers convenience for renters seeking proximity to schools and suburban comforts, making it a reliable investment for rental income. Situated near the Salem-Dallas Highway NW, this property is easily accessible, with a direct route leading across the Willamette River into downtown Salem in just 6 minutes. Salem’s downtown offers a blend of historic buildings, modern shops, parks, and ongoing development projects enhancing the area. New residential construction, streetscape improvements, and easy access to Riverfront Park make the location even more attractive. Major city landmarks like Willamette University, the Oregon State Capitol, and Oregon State Capitol Park are within a 5-minute drive, adding to the property’s appeal for tenants who want proximity to key institutions and the downtown area.

FOR SALE DETAILS

PRICE

$1,380,000 USD

PRICE/SF

$223 USD /SF

# OF UNITS

8

PRICE/UNIT

$172,500

CAP RATE

6.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

RM2

APN/PARCEL ID

251769

ASK ABOUT THIS PROPERTY

William ThompsonHFO Investment Real EstateMore Info
503-241-5541

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William ThompsonHFO Investment Real EstateMore Info
503-241-5541

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