2005-2007 Carleton Way NE
Salem, OR 97301
Carlton Way Apartments · Multifamily Property For Sale · 19 Units

The Carleton Way property is a newly renovated 19-unit turnkey apartment complex with great cashflow that every investor will want in their portfolio! The apartments consist of completely renovated 1-bedroom and 1-bathroom units and feature ultra-low maintenance landscaping! Located in the Capitola area of Salem at 2005-2007 Carleton Way NE, Salem, OR they are within the North Gateway Urban Renewal Area. This area has had significant strategic infrastructure investments made to improve economic vitality, livability and safety for residents and employees in the area. Originally constructed in 1937 and 1963 both buildings have been fully renovated down to the studs and are completely new and energy efficient. Renovated items include all new siding, roofing, flooring, rough electrical and plumbing, all fixtures, interior and exterior doors, drywall, paint, etc. Complete overhaul just finished May 2019 with first move-ins scheduled for June 1st. All units feature floor plans that include washer/dryer hookups and the washer/dryer appliances as well as all stainless-steel kitchen appliances throughout that are energy efficient including over-the-range microwaves, dishwashers, ranges, and refrigerators. The property is located close to neighborhood schools, restaurants, shopping and bus lines. Salem is located approximately 45 minutes south of Portland and has been seeing corresponding increases in effective rents. Rents throughout the Portland MSA have increased north of 40% since 2010. The property's location within Salem is convenient to I-5, commerce, and public transportation. These units became available on 06/01/2019 and were completely 100% leased into 12-month leases in less than TWO WEEKS! INCREDIBLY HIGH LOCAL DEMAND AT EXTREMELY GOOD RENTS!