1215-1225 Chemeketa St NE | Salem, OR 97301
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- LoopNet Team
1215-1225 Chemeketa St NE
Salem, OR 97301
The Interurban · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- Twenty Units in Sought-After Neighborhood with Varied Unit Mix for Broad Tenant Appeal
- Substantial Repositioning and Significant Repairs/Renovations in Past Three Years
- Desirable Vintage Aesthetic with Charming Dual Building Layout
- Ideal Downtown Salem Location – Three Blocks to from Capitol Building and Surrounding Employers and Amenities
- Highly Attractive Assumable Debt – 3.25% Interest Only Until December 2024, Fixed Rate Until November 2026
- Strong Opportunity for Rent Growth – 20% Delta Between In-Place and Market Rents
PROPERTY FACTS
| No. Units | 20 | Lot Size | 0.25 AC |
| Property Type | Multifamily | Building Size | 12,233 SF |
| Property Subtype | Apartment | Average Occupancy | 95% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1945 |
| Zoning | CR | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 12,233 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1945 |
| Zoning | CR |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 11 | - | 456 |
| 1+1 | 7 | - | 626 |
| 2+1 | 2 | - | 984 |
PROPERTY TAXES
| Parcel Number | 587828 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $780,060 |
PROPERTY TAXES
Parcel Number
587828
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$780,060
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