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2585 Lee St SE
Salem, OR 97301
Lee Street Apartments - 8 Plex · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Price Per Unit - $137,375
- Two tax lots, one 4 plex per lot
- Current rents below market between $584 & $1,053
Executive Summary
Turn-key eight-unit multifamily investment in Southeast Salem, comprised of two separate one-story four-unit buildings on individual tax lots. Built in 1978 and extensively rehabilitated in 2018–2019 with over $240,000 in capital improvements, the property is in excellent condition throughout. Recent upgrades include roofing, siding, parking, landscaping, interiors, and appliances. Professionally managed with coin-operated laundry, seven on-site parking spaces, landscaped grounds with irrigation, and separately metered electric utilities. Strong in-place operations with upside potential to increase NOI.
Property Facts
| Price Per Unit | $137,375 | Building Size | 4,080 SF |
| Sale Type | Investment | No. Stories | 1 |
| No. Units | 8 | Year Built | 1978 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RM2 | ||
| Price Per Unit | $137,375 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Building Size | 4,080 SF |
| No. Stories | 1 |
| Year Built | 1978 |
| Opportunity Zone |
Yes |
| Zoning | RM2 |
Property Taxes
| Parcel Number | 590341 | Improvements Assessment | $185,440 |
| Land Assessment | $100,000 | Total Assessment | $285,440 |
Property Taxes
Parcel Number
590341
Land Assessment
$100,000
Improvements Assessment
$185,440
Total Assessment
$285,440
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