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Grant Apartments 1355-1365 4th St NE 6 Unit Apartment Building $799,000 ($133,167/Unit) Salem, OR 97301
Investment Highlights
- Price Per Unit - $133,166
- Close to Broadway Cafe, bus lines & commercial services
Executive Summary
Turnkey asset with major capital improvements already completed. The Grant Apartments is a well-maintained 6-plex with significant renovations completed in 2019–2020. Located in a predominantly residential neighborhood near essential services, this property offers strong tenant appeal and stable income potential. Interior upgrades include vinyl plank flooring throughout, updated kitchens with new cabinets, countertops, fixtures, and appliances. The exterior features, fresh paint, and improved stormwater drainage. Additional amenities include a detached on-site laundry room, 8 paved parking spaces, fenced perimeter with privacyslats, and professionally maintained grounds with mature trees, shrubs, and raised garden beds for tenant use.
Property Facts
| Price | $799,000 | Lot Size | 0.18 AC |
| Price Per Unit | $133,167 | Building Size | 4,692 SF |
| Sale Type | Investment | Average Occupancy | 67% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RM3 | ||
| Price | $799,000 |
| Price Per Unit | $133,167 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 4,692 SF |
| Average Occupancy | 67% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.28/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM3 |
Amenities
Unit Amenities
- Refrigerator
Site Amenities
- Laundry Facilities
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 584375 | Improvements Assessment | $239,340 |
| Land Assessment | $81,340 | Total Assessment | $320,680 |
Property Taxes
Parcel Number
584375
Land Assessment
$81,340
Improvements Assessment
$239,340
Total Assessment
$320,680
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Grant Apartments | 1355-1365 4th St NE
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