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Bramble Court Apartments 1720-1738 Broadway St NE 10 Unit Apartment Building $1,100,000 ($110,000/Unit) 5.70% Cap Rate Salem, OR 97301
Executive Summary
HFO is pleased to present Bramble Court Apartments, a well-maintained 10-unit multifamily community in Salem, Oregon, offering investors an attractive value-add opportunity. Ideally suited for a 1031 exchange buyer or an investor transitioning from single-family rentals into multifamily ownership, the property combines operational simplicity with meaningful upside through below-market in-place rents, month-to-month tenancy, and the potential to generate additional income from existing on-site storage. Comprised entirely of spacious 680-square-foot one-bedroom units with private patios or decks, Bramble Court offers an efficient, easy-to-manage unit mix complemented by on-site laundry, off-street parking, and a pet-friendly environment. Located just minutes from downtown Salem, the Oregon State Capitol, and Salem Hospital, the property benefits from a resilient, government- and healthcare-driven employment base, while its proximity to major shopping, public transit, and everyday conveniences supports long-term tenant demand and stable occupancy.
Property Facts
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $110,000 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 6,800 SF |
| Cap Rate | 5.70% | No. Stories | 2 |
| No. Units | 10 | Year Built | 1969 |
| Property Type | Multifamily | Parking Ratio | 1.47/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM2 | ||
| Price | $1,100,000 |
| Price Per Unit | $110,000 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 6,800 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.47/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM2 |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Breakfast Nook
Site Amenities
- Laundry Facilities
- Trash Pickup - Door to Door
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 680 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 584561 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $446,810 |
Property Taxes
Parcel Number
584561
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$446,810
Contacts
-
Jack Stephens -
Yuriy Chubok -
William Thompson -
Stryder Todd -
HFO Investment Real Estate
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