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Brooktree Apartments

Brooktree Apartments

https://www.josephbernard.net/brooktree
Address:
4066-4082 Commercial Street SE, Salem, Oregon 97302
Price:
$2,050,000
Units:
44
Price per unit:
$46,591
Cap Rate:
7.00%
Year Built:
1969

Highlights

  • Walking Distance to Bus Line, Employment, Entertainment, etc.
  • Well Secluded off Busy Commercial Street SE
  • Most Units with new AC & Pergo Floors
  • Long-Term Occupancy
  • Strong Rental Upside
  • New Upgrades & Capital Improvements
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Brooktree Apartments

Summary

The Brooktree Apartments are a 44 unit community located in a newly developed area off Commercial Street SE in Salem, Oregon. This property was built in 1969 and features all two bedroom units, two coin-operated laundry facilities, a recreational room, private balconies, beautiful landscaping, and a swimming pool.

New upgrades and capital improvements include air conditioning and Pergo floors in most units, three ceiling fans per unit, updated appliances, new siding, new exterior paint, new stair wells, new vinyl downspouts, and new energy efficient water and sewer pipelines.

This property has a strong rental upside with long-term occupancy, and offers an 11%+ cash on cash return on actual numbers.

Highlights

  • Walking Distance to Bus Line, Employment, Entertainment, etc.
  • Well Secluded off Busy Commercial Street SE
  • Most Units with new AC & Pergo Floors
  • Long-Term Occupancy
  • Strong Rental Upside
  • New Upgrades & Capital Improvements
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Brooktree Apartments

The Brooktree Apartments are located in SE Salem and are well-secluded off the busy Commercial Street SE. This community is located within walking distance to the bus line, employment, entertainment, and dining. This newly developed area features medical offices, Walgreens, Trader Joe's, Northern Lights Theatre Pub (dinner and a movie), NW Kids Club, and other community centers.

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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Brooktree Apartments

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Brooktree Apartments

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Brooktree Apartments

Document Title Document Type
Property Flyer Adobe PDF
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Brooktree Apartments

Bernard Gehret
bgehret@josephbernard.net
Andrew Holowetzki
aholowetzki@josephbernard.net
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