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805-875 Gerth Ave NW 8 Unit Apartment Building $1,190,000 ($148,750/Unit) 7.71% Cap Rate Salem, OR 97304
Investment Highlights
- Close to Community Garden
- Across Street from a Park
Executive Summary
Exceptional investment opportunity in West Salem! This well-maintained 8-unit apartment complex offers a strong income-producing asset in a desirable location close to schools, shopping, parks, and downtown Salem. Built in 1978, this property has been well maintained and two units have been updated. The roof is approximately 5 years old. Property has a convenient dedicated parking lot with 15 spaces and on-site laundry that produces additional income. Situated on approximately 0.43 acres, this turnkey multifamily property is positioned to benefit from continued rental demand in the West Salem market. A quality addition to any investment portfolio with long-term upside, with potential possibility of being split into two separate four-plexes. Ideally located in a neighborhood with great parks, next to the Edgewater Community Garden, and close to Walker Middle School. Buyer to perform their own due diligence regarding all property details.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,190,000 | Building Class | C |
| Price Per Unit | $148,750 | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 6,200 SF |
| Cap Rate | 7.71% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2020 |
| Property Subtype | Apartment | Parking Ratio | 2.58/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RM2 | ||
| Price | $1,190,000 |
| Price Per Unit | $148,750 |
| Sale Type | Investment |
| Cap Rate | 7.71% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 6,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2020 |
| Parking Ratio | 2.58/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM2 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $1,100 | 700 |
| 2+1 | 3 | $1,564 | 900 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 251769 | Total Assessment | $427,720 (2026) |
| Land Assessment | $77,440 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $350,280 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
251769
Land Assessment
$77,440 (2026)
Improvements Assessment
$350,280 (2026)
Total Assessment
$427,720 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
805-875 Gerth Ave NW