Listed by Legacy Real Estate
$1,295,000
Pringle Creek 6-Plex
Details
APN 083W02DC06400
Property Type Mixed Use
Square Footage 5,985
Net Rentable (SqFt) 5,768
Units 1
Cap Rate 5.82%
NOI $52,170
Occupancy 100%
Pro-Forma Cap Rate 5.81%
Pro-Forma NOI $75,700
Price per SqFt $216
Year Built 2024
Buildings 1
Lot Size (SqFt) 8,025
Zoning FMU
Parking Spaces spaces
Ground Lease No
Fully-Leased 6-Plex in Pringle Creek
Marketing description
Distinctive 2024-built 6-plex within Pringle Creek Community. Salem's master-planned sustainable neighborhood featuring LEED-certified architecture, 12 acres of preserved common area, community gardens, and walking trails throughout 32 acres in South Salem. Modern building with 5,985 SF of leasable area on an 8,025 SF lot. All units are 2BR/2BA: four 892 SF units (101–104) and two 1,100 SF units (105–106); three include assigned storage. 100% leased to qualified tenants. Pro-forma 5.89% cap at list.
Investment highlights
- Built by Stafford Homes: Award-winning Earth Advantage & LEED credentialed builder. Energy-Star windows, R-60 attic insulation, Hardie Plank exterior with 30-year warranty. Below-average operating costs and minimal near-term Capex.
- Interior Highlights: Quartz countertops, Stainless steel appliances, laminate flooring, stylish fixtures, includes refrigerator and washer/dryer, functional layouts.
- Pringle Creek Community: Inside a nationally recognized 32-acre sustainable agrihood. Community gardens, orchards, restored creek corridor, and 12 acres of parks.
- Capital City Stability: Salem’s 5.5% multifamily vacancy is the lowest among major Oregon submarkets. State of Oregon and Salem Health anchor a recession-resistant tenant base. I-5 access in under 5 minutes.
- 1031 Exchange Friendly Profile: Clean, single-asset single-parcel ownership. No environmental, structural, or tenancy complications identified. Suitable for accelerated exchange timelines or institutional 1031 buyers.
Listing Contacts
Listed by Legacy Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$52,170.00
$4,347.50/mo
Valuation Metrics
0
DSCR
4.03%
Cap Rate
4.03%
ROI
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