Westview Manor
1136 Fairmount Ave S, Salem, OR 97302
Price$1,400,000
Number of Units13
Building Size8,300 sqft
Price/Unit$107,692
Property TypeMultifamily
Cap Rate6.16%
Highlights
- Environmentally Friendly — Energy Efficient Vinyl Windows
- Parking Amenities — Off Street Parking Available
- Easily Accessible — Great Location in Close Proximity to both the I-5 corridor and St. Johns bridge
- Natural Amenities — Patios, Balconies & Greenspace
- Laundry Available on Site — Laundry Facility On Site for Additional Income
Description
The Westview Manor Apartments are located in the desirable South Central sub market of Salem. Just blocks from the downtown Salem area, residents can enjoy many entertainment, dining, and shopping options. In addition, the property is also one mile from Minto-Brown Park, which enjoys the distinction of being larger than Central Park.
The property is comprised of one building with 13 apartment homes. There are seven one-bedroom/one-bath units and six two-bedroom/one-bathroom units.
The property has seen several exterior upgrades in the recent past that include paint, energy efficient vinyl windows, roof, as well as deck railings. The property offers off-street parking with an attached asphalt parking lot.
Financial Summary
- Pro Forma EGI: $118,503
- Pro Forma Cap Rate: 6.16%
Gallery