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5198 Skyline Rd S 1 Unit Apartment Building Offered at $499,900 Salem, OR 97306
INVESTMENT HIGHLIGHTS
- Easy access to I5 and downtown Salem
- Utilities are accessible with power and city water to the property, sewer and stormwater nearby
- Development possibilities from duplexes, triplexes, and fourplexes to larger multi unit complexes, with potential density of up to 31 units per acre
- Zoned for Multi Family residential
- Add income producing units, subdivide, or hold for future appreciation, this is a rare find with endless potential in an unbeatable location
EXECUTIVE SUMMARY
Set on nearly an acre in South Salem. This inviting single level home offers 3 bedrooms, 2 bathrooms, and nearly 2000 sqft of living space. City water and septic system. A second well for irrigation, perfect for maintaining the lush, mature landscaping. Towering fir, sequoia, and pine trees provide shade and privacy, while numerous fruit trees, raised garden beds, and established greenery create a serene, park like setting.The location is ideal for everyday living, with top rated schools, major medical offices, and public transit nearby, plus quick access to I5 and downtown Salem. Beyond the lifestyle appeal, this property offers exceptional long term value. Zoned MultiFamily Residential, it supports a range of development possibilities from duplexes, triplexes, and fourplexes to larger multi unit complexes, with potential density of up to 31 units per acre. Utilities are readily available with power and city water onsite, and sewer and stormwater nearby. Whether you choose to add income producing units, subdivide, or hold for future appreciation, this is a rare find combining comfort today with opportunity tomorrow.Please do not enter the property without an appointment.
PROPERTY FACTS
| Price | $499,900 | Property Type | Multifamily |
| Price Per Unit | $499,900 | Lot Size | 0.78 AC |
| Sale Type | Investment | Building Size | 1,990 SF |
| Sale Condition | Redevelopment Project | No. Stories | 1 |
| No. Units | 1 | Year Built | 1950 |
| Zoning | RM2 - Zoned MultiFamily Residential, development possibilities from duplexes, triplexes, and fourplexes to larger multi unit complexes | ||
| Price | $499,900 |
| Price Per Unit | $499,900 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 1 |
| Property Type | Multifamily |
| Lot Size | 0.78 AC |
| Building Size | 1,990 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Zoning | RM2 - Zoned MultiFamily Residential, development possibilities from duplexes, triplexes, and fourplexes to larger multi unit complexes |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Fireplace
- Microwave
- Washer/Dryer
- High Speed Internet Access
- Carpet
- Family Room
- Pantry
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | - | 1,990 |
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5198 Skyline Rd S
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