Savage Road Apartments
Value-Add Investment Opportunity in Salem, OR
Marketing description
Property Website: https://www.marcusmillichap.com/properties/183836/savage-road-apartments
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Savage Road Apartments. This garden style apartment complex presents an excellent opportunity to acquire a value-add investment in the growing capital of Oregon, Salem. This community offers sixteen total units with a healthy mix of studio, one, two, and three, bedroom layouts.
Savage Road Apartments was constructed in 1962 and has been well maintained with major capital improvements completed including updated roofs, siding, windows, electrical, plumbing, exterior paint, and upgraded interior finishes in select units. Residents enjoy the oversized floorplans, off-street parking, individual exterior entry, and easy access to major roadways while still being enjoying a quiet living environment. The property is poised to take advantage of the suburban retail market. Within walking distance of major retail centers, the asset provides for unique retail and dining options, and the property is well-positioned to continue serving the Salem community well into the future.
Investment highlights
Located in Salem, the State Capital of Oregon
10% Upside in Rental Income Through Renovations
Diverse Unit Mix of Studio, One, Two, and Three Bedroom Layouts
Capital Improvements Include: Roofs, Windows, Siding, Exterior Paint, Electrical, Plumbing
Opportunity to Institute RUBs
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