Salem 12-Plex
3654-3664 47th Ave NE, Salem, OR 97305
Price$1,285,000
Number of Units12
Building Size10,800 sqft
Price/Unit$107,083
Property TypeMultifamily
Cap Rate6.52%
Highlights
- Newly Painted — Fresh New Exterior Look
- Efficient Upgrades — High Efficiency Vinyl Windows
- Onsite Laundry — Two Laundry Rooms
- Updated Interiors — Select Units with Upgraded Laminate or LVP flooring
Description
Built in 1979, the Salem 12 Plex is located in the Northeast quadrant of Salem. The property is comprised of four two-bedroom/one-bathroom units with 900 sq ft and eight two-bedroom/one-bath units with 800 square feet. The property offers two onsite laundry rooms and plentiful off street parking. Select units feature updated engineered wood flooring and bonus room. The Salem 12 Plex is made up of two buildings each with two stories, wood frame construction and pitched composition roofs.
*Listing Broker is Partial Owner of Property
Financial Summary
- Pro Forma NOI: $83,793
- Pro Forma Cap Rate: 6.52%
Gallery