Log In/Sign Up
Your email has been sent.
420 Flying Squirrel Way NW
Salem, OR 97304
Redwood Hills · Multifamily Property For Sale
·
16 Units
Investment Highlights
- UNIT COUNT AND MIX: Sixteen Total Units Featuring Two Bedroom Townhomes
- STRONG RENTAL APPEAL: All Units Feature Attached Single Car Garages Patio Balconies Fireplaces and Washer Dryer
- PROXIMITY DRIVEN DEMAND: Within Five to Ten Minutes From Parks Restaurants Retail and Public Transportation
- INFILL WEST SALEM LOCATION: Located on a Cul De Sac in a Quiet Residential Neighborhood in Appealing West Salem
- STABLE SITE CHARACTERISTICS: Well Maintained Landscaping and Adjacent to Wooded Area and Greenspace
- TOWNHOME LAYOUT: Nine Hundred Square Foot Spacious Units With Quality Finishes
Executive Summary
Marcus & Millichap is pleased to present Redwood Hills, a well-maintained 16-unit multifamily townhome community located at 420 Flying Squirrel Way NW in West Salem, Oregon. Situated in the highly desirable West Salem submarket within Polk County, the property benefits from strong tenant demand, excellent neighborhood appeal, and a favorable landlord environment compared to larger nearby metropolitan markets. The asset is positioned in a quiet residential cul-de-sac just minutes from downtown Salem, Interstate 5 access, and major regional employment centers, creating strong long-term rental stability. Redwood Hills consists of two-story townhome-style residences originally built in 2000 and updated in 2006, offering an attractive low-density residential setting with established landscaping, mature trees, and green space throughout the community.
The community features a 100% two-bedroom, two-bathroom unit mix with approximately 900 square feet per unit, providing highly desirable layouts that support consistent occupancy and long-term tenancy. Each residence offers an open floor plan with combined living, dining, and kitchen areas, vaulted ceilings, gas fireplaces, and a functional two-story layout with a full bedroom and bathroom on each floor, an increasingly attractive feature for roommate living, multigenerational occupancy, and flexible tenant needs. Additional unit amenities include walk-in closets in primary bedrooms, attached single-car garages with off-street parking, private decks overlooking wooded green space, abundant storage, washer and dryer hookups, dishwashers, garbage disposals, and strong overall fit and finish that enhances resident retention.
Residents benefit from immediate proximity to major employers including Salem Health, the State of
Oregon government offices, and nearby educational institutions such as Willamette University. The property is also located near shopping destinations including Orchard Ridge area retail, Roth’s Fresh Markets, and other West Salem conveniences, while remaining within minutes of parks, public transportation, and downtown Salem amenities. Redwood Hills presents investors the opportunity to acquire a stable, well-positioned multifamily asset in one of the Salem MSA’s strongest rental submarkets, supported by durable tenant demand, functional townhome product, and strong long-term appreciation fundamentals.
The community features a 100% two-bedroom, two-bathroom unit mix with approximately 900 square feet per unit, providing highly desirable layouts that support consistent occupancy and long-term tenancy. Each residence offers an open floor plan with combined living, dining, and kitchen areas, vaulted ceilings, gas fireplaces, and a functional two-story layout with a full bedroom and bathroom on each floor, an increasingly attractive feature for roommate living, multigenerational occupancy, and flexible tenant needs. Additional unit amenities include walk-in closets in primary bedrooms, attached single-car garages with off-street parking, private decks overlooking wooded green space, abundant storage, washer and dryer hookups, dishwashers, garbage disposals, and strong overall fit and finish that enhances resident retention.
Residents benefit from immediate proximity to major employers including Salem Health, the State of
Oregon government offices, and nearby educational institutions such as Willamette University. The property is also located near shopping destinations including Orchard Ridge area retail, Roth’s Fresh Markets, and other West Salem conveniences, while remaining within minutes of parks, public transportation, and downtown Salem amenities. Redwood Hills presents investors the opportunity to acquire a stable, well-positioned multifamily asset in one of the Salem MSA’s strongest rental submarkets, supported by durable tenant demand, functional townhome product, and strong long-term appreciation fundamentals.
Property Facts
| Price Per Unit | $195,000 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.12% | Lot Size | 0.76 AC |
| No. Units | 16 | Building Size | 9,900 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2000 |
| Zoning | RM2 | ||
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 9,900 SF |
| No. Stories | 2 |
| Year Built | 2000 |
| Zoning | RM2 |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 16 | - | 900 |
Property Taxes
| Parcel Number | 571635 | Improvements Assessment | $137,850 |
| Land Assessment | $0 | Total Assessment | $137,850 |
Property Taxes
Parcel Number
571635
Land Assessment
$0
Improvements Assessment
$137,850
Total Assessment
$137,850
1 of 12
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
