3312-3374 Liberty Rd S
Salem, OR 97302
Vista Terrace Apartments · Multifamily Property For Sale · 20 Units

The Vista Terrace Apartments is a well cared for, garden style, apartment community situated in a convenient location in South Salem. The property was constructed in 1973 with a wood frame and a pitched roof. The roof is metal, and siding is a combination of concrete fiberboard and T1-11. The property consists of 20 units total, 18 of which are two-bed/one-bath flats, and two, large three-bed/two-bed flats. The property has ample parking with 16 carports and an additional 12 surface spaces. There is a community laundry room adjacent to a large open, flexible space that can easily be used to create additional value. Units feature either patios or decks, and interiors offer basic fixtures and finishes that also can be upgraded creating additional increase in pro forma. Sewer lines inclusive of main line and kitchen waste lines have been replaced, the exterior has been recently painted for most of the building and all the old electrical panels have been replaced and upgraded. The asset is ideally and conveniently located in Marion County, Oregon, two miles from Downtown Salem, and 48 miles south of Downtown Portland. The property is walking distance to a variety of commerce such as McMenamins, Fred Meyer, Ventis Cafe + Taphouse, Jamba Juice, Panera Bread and Five Guys. A short drive away is Downtown Salem, which is home of the Oregon State Capitol, Willamette University, Riverfront City Park, Salem Cinema, Macy’s, jogging and biking paths, sports fields, grocery stores, and a plethora of restaurants. Amazon’s brand new distribution center that will open in 2019 is a mere 15 minute drive away.