2510-2560 Broadway St NE - Apartments FOR SALE


Salem, OR 97301- Highland
$7,500,000 USD
503-364-7400
2510-2560 Broadway St NE, Salem, OR for Sale
$7,500,000 USD
Apartments - FOR SALE
1/22
null | 6.15% Cap Rate

2510-2560 Broadway St NE
Salem, OR 97301
Highland


HIGHLIGHTS

  • Capital Improvement Projects completed in the last 18 months totaling over $375,000
  • 18 units have significant interior improvements
  • Siding, paint, gutters, railings on decks, deck repairs/ replacements, drywall, signage, landscape including complete replacement of irrigation
  • Sister property, Somerset West Apartments also for sale at $3,500,000

OVERVIEW

Somerset East Apartments features 55 units comprised of five, two or three story buildings. This well-appointed property features spacious one, two, and three-bedroom apartments situated on 69,104 SF (1.59 acres). Units include fully equipped kitchens, private patios or balconies, and access to a pet-friendly environment, complemented by ample on- and off-street parking. Strategically situated in Northeast Salem near the MLK Parkway, Somerset Apartments offers proximity to Keizer and is just minutes from Downtown Salem and Interstate 5. With multiple bus lines at its doorstep, residents enjoy seamless connectivity throughout the Salem-Keizer area, ensuring effortless commutes and access to local amenities.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$198 USD /SF

# OF UNITS

55

PRICE/UNIT

$136,364

CAP RATE

6.15%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

East Somerset Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

70

LAND DETAILS

LAND ACRES

1.59 AC

LAND SF

69,260 SF

ZONING

RM2

APN/PARCEL ID

526453

ASK ABOUT THIS PROPERTY

Jennifer MartinFirst Commercial Real EstateMore Info
503-364-7400

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Jennifer MartinFirst Commercial Real EstateMore Info
503-364-7400

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