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16th Street Apartments

16th Street Apartments

https://www.josephbernard.net/16th_street
Address:
365 16th Street SE, Salem, Oregon 97301
Price:
$204,000
Units:
6
Price per unit:
$34,000
Cap Rate:
8.30%
Year Built:
1901

Highlights

  • Near Public Transportation
  • 3 Blocks from Willamette University
  • Off-Street Parking
  • On-Site Laundry
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16th Street Apartments

Summary

This six unit property is situated on a tree-lined street only three blocks from Willamette University in the central area of Salem, Oregon. The building has a mix of one and two bedroom units and has ample storage in the basement. The property has many long-term tenants and has been well maintained.

This is a great opportunity to acquire a well-run property for $35,000 per unit and receive at least 12% cash on cash return.

Highlights

  • Near Public Transportation
  • 3 Blocks from Willamette University
  • Off-Street Parking
  • On-Site Laundry
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16th Street Apartments

Salem is the capital of the state of Oregon, and the county seat of Marion County.  It is located alongside the Willamette River, which forms the boundary between Marion and Polk Counties.  The Willamette River is considered to be one of the most fertile and agriculturally productive regions of the United States.

With over 150,000 residents, Salem is Oregon's second largest city.  Elevation in this city ranges from 120' at the riverside to 1000' at Eola Hills.  It is home to over 13 public and private universities, including Willamette University.  Events and attractions in Salem include the Oregon State Fair, Salem Saturday Market, the annual World Beat Festival, Salem Art Festival, and the Bite of Salem.

Salem has the second largest school district in Oregon, with an enrollment of 39,000 students and over 2,000 teachers and counselors.  The state of Oregon is the largest employer of Salem, with over 13,000 full-time employees.

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16th Street Apartments

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16th Street Apartments

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16th Street Apartments

Document Title Document Type
Property Flyer Adobe PDF
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16th Street Apartments

Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax