3925-3967 Lancaster Dr - Apartments FOR SALE


Salem, OR 97305- Hayesville
$3,290,000 USD
503-221-4888
3925-3967 Lancaster Dr, Salem, OR for Sale
$3,290,000 USD
Apartments - FOR SALE
1/14
null | 6.26% Cap Rate

3925-3967 Lancaster Dr
Salem, OR 97305
Hayesville


HIGHLIGHTS

  • Value-add
  • Below market rents
  • Low density with vacant land for future development

OVERVIEW

JFJ is a 17-unit apartment complex located in Salem, OR. JFJ includes eight 2bd/1.5ba Townhomes, six 3bd/1.5ba Townhomes, two 2bd/1ba units in a duplex, and a 3bd/2ba single-family home across six different parcels. Additionally, a vacant 10,000-SF residentially-zoned lot with development potential is included in the offering. The townhomes were built in 1968 through 1971, the duplex was built in 1976, and the single-family home was built in 1958. There are five improved parcels, including standalone parcels for the duplex and single-family home, and the vacant development lot. The property has been well maintained, with nearly $1m in capex completed during the last 10 years, including roofs, electrical, plumbing, and interior upgrades. 100% market-rate; no affordable units. Please contact Matt Dodd or Sean Milligan for more information.

FOR SALE DETAILS

PRICE

$3,290,000 USD

PRICE/SF

$159 USD /SF

# OF UNITS

17

PRICE/UNIT

$193,529

CAP RATE

6.26%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

JFJ Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

RM

APN/PARCEL ID

522293,522301,522304,522306,546254

ASK ABOUT THIS PROPERTY

Matt DoddCBREMore Info
503-221-4888

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Matt DoddCBREMore Info
503-221-4888

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