1702 Madras St SE - Apartments FOR SALE


Salem, OR 97306
$8,900,000 USD
503-241-5541
1702 Madras St SE, Salem, OR for Sale
$8,900,000 USD
Apartments - FOR SALE
1/27
null | 5.97% Cap Rate

1702 Madras St SE
Salem, OR 97306


HIGHLIGHTS

  • Spacious Layouts: 56 two-bedroom units averaging 1,000 square feet
  • Modern Amenities: Features include stainless steel appliances, hardwood flooring, fireplaces, and private patios or balconies
  • Community Perks: Residents enjoy a seasonal pool, tennis court, picnic areas, and on-site laundry facilities
  • Prime Location: Located in South Salem's South Gateway neighborhood, close to grocery stores, restaurants, and public transportation
  • Easy Access: Just minutes from I-5 for convenient travel throughout Salem and the metro area

OVERVIEW

Introducing Battle Creek Lodges, a 56-unit apartment community in South Salem, OR. The property features spacious two-bedroom layouts averaging at 1,000 square feet. Battle Creek Lodges includes desirable apartment amenities such as fully equipped kitchens with dishwashers and stainless steel appliances, hardwood flooring, fireplaces, ceiling fans, and patios and balconies. This well-landscaped community offers residents a seasonal pool, tennis court, picnic areas, on-site laundry facilities, and off-street parking. Nestled in the South Gateway neighborhood of Salem, and just off of Commercial Street SE, residents enjoy the serenity of suburban life without sacrificing the perks of urban convenience. Residents are just steps away from a myriad of grocery stores as well as easy access to bus lines, retail outlets, and a diverse array of restaurants. With Interstate 5 just minutes away, Battle Creek Lodges is well-placed for fast access around Salem and the greater metro area.

FOR SALE DETAILS

PRICE

$8,900,000 USD

PRICE/SF

$161 USD /SF

# OF UNITS

56

PRICE/UNIT

$158,929

CAP RATE

5.97%

% LEASED

84%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Battle Creek Lodges

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

90

LAND DETAILS

LAND ACRES

3.36 AC

LAND SF

146,362 SF

ZONING

-

APN/PARCEL ID

R32726

ASK ABOUT THIS PROPERTY

Adam SmithHFO Investment Real Estate, LLCMore Info
503-241-5541

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Adam SmithHFO Investment Real Estate, LLCMore Info
503-241-5541

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