805-875 Gerth Ave NW - Apartments FOR SALE


Salem, OR 97304- West Salem
$1,190,000 USD
541-359-9132
805-875 Gerth Ave NW, Salem, OR for Sale
$1,190,000 USD
Apartments - FOR SALE
1/34
null | 7.71% Cap Rate

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


HIGHLIGHTS

  • Close to Community Garden
  • Across Street from a Park

OVERVIEW

Exceptional investment opportunity in West Salem! This well-maintained 8-unit apartment complex offers a strong income-producing asset in a desirable location close to schools, shopping, parks, and downtown Salem. Built in 1978, this property has been well maintained and two units have been updated. The roof is approximately 5 years old. Property has a convenient dedicated parking lot with 15 spaces and on-site laundry that produces additional income. Situated on approximately 0.43 acres, this turnkey multifamily property is positioned to benefit from continued rental demand in the West Salem market. A quality addition to any investment portfolio with long-term upside, with potential possibility of being split into two separate four-plexes. Ideally located in a neighborhood with great parks, next to the Edgewater Community Garden, and close to Walker Middle School. Buyer to perform their own due diligence regarding all property details.

FOR SALE DETAILS

PRICE

$1,190,000 USD

PRICE/SF

$192 USD /SF

# OF UNITS

8

PRICE/UNIT

$148,750

CAP RATE

7.71%

% 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

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

Joshua GlaspieICON Real Estate GroupMore Info
541-359-9132

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Joshua GlaspieICON Real Estate GroupMore Info
541-359-9132

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