1148 37th Pl NE - Apartments FOR SALE


Salem, OR 97301
$5,800,000 USD
503-208-9393
1148 37th Pl NE, Salem, OR for Sale
$5,800,000 USD
Apartments - FOR SALE
1/9
null | 5.75% Cap Rate

1148 37th Pl NE
Salem, OR 97301


HIGHLIGHTS

  • 55+ Property
  • Many physical property improvements over past 5 years
  • All ADA Compliant 2 bedroom units with laundry

OVERVIEW

Located in a peaceful 55+ community, this well-maintained complex consists entirely of 2-bedroom, 1-bathroom apartment units at approximately 900 sf, offering modern amenities, including an electric range, refrigerator, dishwasher, in-unit washer and dryer, and electric cadet heaters. Built in 1997, it combines charm with convenience, providing a tranquil living environment close to Salem’s amenities. Water, sewer, and garbage utilities are included, with other utilities covered by the tenants. Ideal for those seeking a comfortable, quiet lifestyle. Owners have recently improved the property by installing a new roof in 2020 and the removal of approximately 80% of the vinyl siding and replacement with Hardi-plank, along with replacement of windows in these areas, recent roof replacement and lobby upgrades.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$101 USD /SF

# OF UNITS

36

PRICE/UNIT

$161,111

CAP RATE

5.75%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Camelot East Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1997

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,611 SF

ZONING

RM2

APN/PARCEL ID

R83465

ASK ABOUT THIS PROPERTY

Hugh HoltmanSVN | Imbrie RealtyMore Info
503-208-9393

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Hugh HoltmanSVN | Imbrie RealtyMore Info
503-208-9393

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.