Multi-family investment opportunity! 28 units located on two tax lots on the busy Liberty Street Corridor. There are 6 buildings in total. The property features an office and a coin-operated laundry room that is approximately ±1,388 SF. The unit mix includes: 26 | 592 SF | 1-bedroom 1-bath units 2 | 650 SF | 2-bedroom 1-bath units About 60% of the units have been renovated including new heating, sinks, countertops, and paint. Increased rent for the 9 remaining unrenovated units will occur once renovations are complete. Price is based upon manager raising rents to market starting January 2021. They believe that this process should take about 1 year to complete.
| Property Type | Multi-Family |
|---|---|
| Year Built | 1977 |
| Level Number | 2 |
| Sub-Lease | 28 |
| Listing ID | R3MCWL |
| MLS ID | 770451 |
| Style | Multi-Family (5-20 Units) |
| Building Size | 18,080 SF |
| Lot Size | 0.56 AC |
Property Highlights
100% Occupancy
Prime Location Close to Downtown Salem
City Inspections Performed in 2019
Majority of Water Heaters Replaced in 2019
Area DescriptionArea Description: Located on Liberty Street near Bush Street and Owens Street. The subject property is within walking distance to Bush Park and less than a half of a mile to downtown.
Region: Salem
Region: USA
Region: North America
Region: Oregon
| Lot Size: | 1/2 - 1 Acre |
| Water: | City Water |
| Sewer: | City |
| Age: | 41-50 Years Old |
