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Willow Lake Apartments 760 Plymouth Dr NE 57 Unit Apartment Building $7,600,000 ($133,333/Unit) 5.52% Cap Rate Keizer, OR 97303
INVESTMENT HIGHLIGHTS
- Spacious units
- Access to Highway 99 and Interstate 5
- Off-street parking
EXECUTIVE SUMMARY
Willow Lake is a 57-unit apartment community located in Keizer, Oregon. The property was built in 1964 and features spacious one-, two-, and three-bedroom apartments.
The property is spread across three buildings surrounding a central, off-street parking lot with reserved resident spaces and additional guest spaces. Willow Lake is located just two miles north of downtown Salem, conveniently near access points for Highway 99 East and Interstate 5.
The property is spread across three buildings surrounding a central, off-street parking lot with reserved resident spaces and additional guest spaces. Willow Lake is located just two miles north of downtown Salem, conveniently near access points for Highway 99 East and Interstate 5.
PROPERTY FACTS
| Price | $7,600,000 | Building Class | C |
| Price Per Unit | $133,333 | Lot Size | 1.89 AC |
| Sale Type | Investment | Building Size | 109,952 SF |
| Cap Rate | 5.52% | Average Occupancy | 100% |
| No. Units | 57 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.72/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM | ||
| Price | $7,600,000 |
| Price Per Unit | $133,333 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.89 AC |
| Building Size | 109,952 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.72/1,000 SF |
| Zoning | RM |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 750 |
| 2+1 | 45 | - | 850 - 900 |
| 3+1 | 4 | - | 1,200 |
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 525802 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,313,400 |
PROPERTY TAXES
Parcel Number
525802
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,313,400
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Willow Lake Apartments | 760 Plymouth Dr NE
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