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1031-1041 7th St NW

6 Unit Block of Flats £828,450 (£138,075/Unit) Salem, OR 97304

Investment Highlights

  • 6-unit, two-story complex in West Salem, OR
  • Situated near the Salem-Dallas Highway NW with great access to Downtown Salem
  • Features updated interiors, including granite countertops, new appliances, and off-street parking.

Executive Summary

Introducing the apartments at 1031-1041 7th Street NW, a 6-unit, two-story complex in West Salem, OR. The property features updated interiors, including granite countertops, new appliances, and off-street parking. Located near family-oriented amenities like Harritt Elementary, Walker Middle School, and West Salem High School, this property offers convenience for renters seeking proximity to schools and suburban comforts, making it a reliable investment for rental income.
Situated near the Salem-Dallas Highway NW, this property is easily accessible, with a direct route leading across the Willamette River into downtown Salem in just 6 minutes. Salem’s downtown offers a blend of historic buildings, modern shops, parks, and ongoing development projects enhancing the area. New residential construction, streetscape improvements, and easy access to Riverfront Park make the location even more attractive. Major city landmarks like Willamette University, the Oregon State Capitol, and Oregon State Capitol Park are within a 5-minute drive, adding to the property’s appeal for tenants who want proximity to key institutions and the downtown area.

Property Facts

Price £828,450
Price Per Unit £138,075
Sale Type Investment
Gross Rent Multiplier 12.79
No. Units 6
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.18 AC
Building Size 4,030 SF
Number of Floors 2
Year Built 1977
Parking Ratio 1.49/1,000 SF
Opportunity Zone Yes

Unit Amenities

  • Dishwasher
  • Kitchen
  • Granite Countertops
  • Refrigerator
  • Range
  • Tub/Shower
  • Yard

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 3 - 583
2+1 3 - 760
Bike Score ®
Very Bikeable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
257349
Land Assessment
£72,951
Improvements Assessment
£175,695
Total Assessment
£248,645

zoning

Zoning Code RM2
RM2
  • Listing ID: 33453310

  • Date on Market: 08/10/2024

  • Last Updated:

  • Address: 1031-1041 7th St NW, Salem, OR 97304

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