Listed by First Commercial Real Estate Services
$825,000
West Salem Six-plex
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,000
Units 6
NOI $51,227
Class C
Year Built 1972
Buildings 1
Acreage 0.240
Zoning RM2
Investment Type Value Add
West Salem 6-plex presents a compelling value-add investment opportunity w/ immediate income upside
Marketing description
This well-located West Salem 6-plex presents a compelling value-add investment opportunity with immediate income upside. The property consists of six 1 bed, 1 bath units across ≈4,000 SF on a single .24- acre parcel, zoned RM2 (Residential Multifamily 2). Built in 1972, the building has solid bones and is positioned for both cosmetic upgrades and long-term repositioning.
With strong rental demand in this established West Salem neighborhood, investors can capture significant upside through renovations, rent adjustments, or a longterm hold with steady appreciation. This 6-plex provides a combination of in-place income with clear pathways to enhanced returns.
Investment highlights
- Under-market rents: Current rents trail market averages, providing nearterm upside as units turn over.
- Unit renovation potential: Interior updates can further drive rental premiums and tenant retention.
- Redevelopment flexibility: RM2 zoning supports additional density or future redevelopment strategies.
- Desirable location: The property offers quick access to downtown Salem, schools, shopping, and public transit.
Listing Contacts
Listed by First Commercial Real Estate Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$51,227.00
$4,268.92/mo
Valuation Metrics
0
DSCR
6.21%
Cap Rate
6.21%
ROI
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