In a nutshell:
This deal is well suited for a buyer who plans to hold the property at least ten years. Ideal for buyers who desire to minimize management stresses - easy to manage property. Well suited for first-time apartment buyers. A building buyers will be proud to own. Property is in excellent condition. Speak to listing agent to discuss financing terms - local loan comparisons on hand.
The Metropolitan Building is located in a true transit-oriented community that combines
the benefits of walk-ability, public transit, and luxury living. The three-story property
was renovated with luxury finishes and distinctive appointments that cater to the tastes
of today' s renters. The asset features premium kitchens, upscale carpet and tile flooring,
over-sized windows and spectacular city views. The rare unit mix includes six one-bedroom/
one-bathroom flats and eight one-bedroom/two-bathroom open loft floor plans averaging
903 and 1,495 square feet respectively.
Built in 1912 and completely remodeled in 2007, the property offers investors the
opportunity to acquire a rare, turn-key, luxury multifamily community in the progressive
downtown core of Salem. This prime location on Liberty Street earns a Walk-Score of 81
and a Bike-Score of 98, topping six of seven categories.
Located in the Central Area neighborhood, Metropolitan Building offers a best-of-both worlds
location as it is situated within walking distance to the shops and restaurants on
Liberty Street, minutes from Riverfront City Park and Madison Square City Park, all
while being within a short commute of major employment centers including The State of
Oregon, Oregon State Hospital, Chemeketa Community College, and the City of Salem. The Metropolitan is just blocks from the Willamette University Campus.
With its premier location, stylish architecture, striking views, and high-end unit finishes,
Metropolitan is the preeminent luxury residential property in the Urban Core.
