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Bishop Bldg 145 Liberty St NE 8 Unit Apartment Building $4,200,000 ($525,000/Unit) Salem, OR 97301
EXECUTIVE SUMMARY
Built in 1894 and meticulously restored, the Bishop Building at 145 Liberty St NE in downtown Salem offers over 24,000 sq ft of mixed-use space blending historic charm with modern luxury. The property features eight spacious two-bedroom townhome-style apartments, each 1,500-1,800 sq ft with designer finishes including stainless steel appliances, granite countertops, exposed brick, gas fireplaces, walk-in closets, dual sinks, motorized shades, full-size washers/dryers, and A/C. Multiple commercial spaces are home to quality long-term retail tenants, providing a strong income stream, while a vacant full basement offers value-add potential. Current residential rents ranging from $2,000–$2,250, the Bishop Building delivers both financial performance and lifestyle appeal. Located steps from Riverfront City Park, Wilson Park, Willamette University, and an array of cafés, restaurants, and cultural attractions, this heritage property offers a rare opportunity to own a piece of Salem’s history in a vibrant, urban setting.
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PROPERTY FACTS
| Price | $4,200,000 | Building Class | C |
| Price Per Unit | $525,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 24,300 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1894/2007 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CB | ||
| Price | $4,200,000 |
| Price Per Unit | $525,000 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 24,300 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1894/2007 |
| Opportunity Zone |
Yes |
| Zoning | CB |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Fireplace
- Washer/Dryer
- Kitchen
- Granite Countertops
- Sprinkler System
- Stainless Steel Appliances
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
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Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 589231 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,997,930 |
PROPERTY TAXES
Parcel Number
589231
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,997,930
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Bishop Bldg | 145 Liberty St NE
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