6-Plex at 1710 Capitol NE, Salem, Oregon For Sale: $1,100,000 The owner will consider a fair offer, and will provide financing at 4% interest-only payments, 5 years, after 20-25% down payment. Annual gross income $67,920 Annual Expenses $15,432 (23% of AG) Month-to-month rentals, no vacancies Monthly rental income per unit: 1 - $1275 2 - $735 3 - $800 4 - $900 5 - $835 (Upcoming increase to $975) 6 - $975 Interior access to property only available after a contract is signed. Owner’s notes and photos (of the two refurbished units): There is minimal deferred maintenance. Plans to paint floor in laundry room, paint exterior south wall, repair some exterior trim on front of building. Considering converting lawn to artificial turf to end mowing. Building has WIFI system, and security cameras for off-site monitoring. Plus coin-op laundry that also produces income (excellent commercial appliances and coin machine). Six bedroom, six bathrooms, built in 1930. 4,800 sq.ft. Lot size 3,675 sq.ft. Taxes $5,227. The roof is in excellent condition. The north side of the roof re-roofed a few years ago. (Note - there are a few brick missing off the top of the chimney, but the chimney is no longer in service except as an exhaust for an A/C unit in #6) The electricity and plumbing were re-done prior to when the property was purchased. All the water service was replaced with all new rigid copper. It was plumbed with a separate water shut-off to each apartment (separate metering of water 'could be added if desired). Similarly, the electricity is all modern wiring and each apartment has it's own meter, plus a seventh meter for halls, stairs, and laundry area. All electric heating. Most appliances are less than 5 years old, and some new as of last year). The property was awarded an award for most improved property of the year in the neighborhood at one point. It also passed the City of Salem rental inspections with FLYING COLORS each time. For additional information, please contact Les Bick, First West Realty, Inc 503-328-6282 firstwestcos@comcast.net