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1348 12th St 10 Unit Apartment Building $1,739,000 ($173,900/Unit) 6% Cap Rate Salem, OR 97302

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EXECUTIVE SUMMARY

This 10-unit complex was completely renovated in 2017. 100% occupied & attaining solid rents on a good unit mix. In place property management. Assumable financing for a qualified purchaser. Fixed rate at 4.030%. Loan matures in 2032. Two minutes from Willamette University and just five minutes from Salem Center Mall and Salem's vibrant down-town district.
Property Renovations include:
• New 30-year roof & new gutters installed
• All new double pane energy efficient windows & blinds installed
• All new siding installed
• All new insulation, drywall and paint
• All new energy efficient appliances installed
• All new efficiency faucets and toilets installed
• All new fixtures installed
• All new doors & locks installed
• All new cabinetry & counter tops installed
• All new vinyl and carpet flooring installed
• All new tubs and bathroom sinks installed
• All new plumbing installed
• All new electrical installed
• Property is located in an Opportunity Zone
• Community courtyard & open space
• 10 onsite parking spaces and street side parking
• Coin operated laundry facilities

OM - 10 Unit 12th St.

PROPERTY FACTS

Price	$1,739,000	Apartment Style	Low-Rise
Price Per Unit	$173,900	Building Class	B
Sale Type	Investment	Lot Size	0.33 AC
Cap Rate	6%	Building Size	5,528 SF
Sale Condition	1031 Exchange	No. Stories	2
Gross Rent Multiplier	10.73	Year Built/Renovated	1945/2017
No. Units	10	Parking Ratio	1.81/1,000 SF
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment
Zoning	CG

Price	$1,739,000
Price Per Unit	$173,900
Sale Type	Investment
Cap Rate	6%
Sale Condition	1031 Exchange
Gross Rent Multiplier	10.73
No. Units	10
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	B
Lot Size	0.33 AC
Building Size	5,528 SF
No. Stories	2
Year Built/Renovated	1945/2017
Parking Ratio	1.81/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	CG