Investment Real Estate - Salem, Oregon - Property Detail

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Cannon Court Apartments

https://www.josephbernard.net/cannon-court

Address:: 2599 12th Street SE, Salem, Oregon 97303

Price:: $1,725,000

Units:: 32

Price per unit:: $52,656

Cap Rate:: 7.17%

Year Built:: 1970

Highlights

Spacious 2-Bedroom Units with Decks/Patios
Off-Street Parking
On-Site Laundry
Strong Tenant Base & Rental History
Convenient Location Near Freeways & Bus Lines

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Cannon Court Apartments

Summary

The Cannon Court Apartments are a 32-unit community located on the end of a quiet street in SE Salem, Oregon. This property was built in 1970 and features spacious two bedroom units that have either patios or decks. The property has on-site laundry, off-street parking, and has a strong tenant base and rental history.

Highlights

Spacious 2-Bedroom Units with Decks/Patios
Off-Street Parking
On-Site Laundry
Strong Tenant Base & Rental History
Convenient Location Near Freeways & Bus Lines

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Cannon Court 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.