Duplex with Income Potential

1525 SE LEE St, Salem, OR 97302

View on Map

For Sale

$799,000

MULTI_FAMILY - Salem, OR

Property size:

4,262 SF

Lot size:

0.14 Acres

Price / SF:

$187/SF

HighLights

Duplex property at 1525–1535 Lee St SE
2019 construction with forced air heating
8 bedrooms and 6 bathrooms across the duplex
Composition roof
ADU and Airbnb potential mentioned by seller
Units are currently occupied; showings require pre‑approval

We can help!

Contact an agent

Katy Zhu

For Sale

$799,000

MULTI_FAMILY - Salem, OR

Property size:

4,262 SF

Lot size:

0.14 Acres

Price / SF:

$187/SF

Added:: May 8, 2026
Days on Market:: 49
Last Refresh:: Jun 25 at 9:06 am

Property Features for 1525 SE LEE St

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: Multi f
Bedrooms: 8
Bathrooms: 6
Rooms: Bedroom 1, Bathroom 5, Bedroom 3, Bedroom 5, Bedroom 7, Bedroom 6, Bedroom 8, Bathroom 1, Bathroom 3, Bathroom 6, Bathroom 2, Bedroom 2, Bathroom 4, Bedroom 4
Standard status: Active
APN: 571032
Size: 4,262 SF
Lot size: 0.14 Acres

Taxes and HOA fees

Tax Description: DEPOT ADD SALEM LOT 1 BLK 11
Tax Annual Amount: 6956

Utilities

Heating system: Forced Air

Building Details

Year built: 2019
Floors in Building: 2
Number of units: 2
Roof type: Composition

We can help!

Contact an agent

Katy Zhu

Listing agent Katy Zhu

Listing office MORE Realty 9792 SW Nimbus Ave, Tigard, OR

Listing date May 8, 2026

MLS# 394892498 Listing URL

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

Duplex property at 1525–1535 Lee St SE
2019 construction with forced air heating
8 bedrooms and 6 bathrooms across the duplex
Composition roof
ADU and Airbnb potential mentioned by seller
Units are currently occupied; showings require pre‑approval

Overview

This duplex property, located in Salem, Oregon, presents a rare opportunity for homeowners seeking an investment component. With ADU and Airbnb potential, the property offers the possibility of renting out one side for cash flow or accommodating multi-family living. The duplex features a total of 8 bedrooms and 6 bathrooms. The property is located near Salem Hospital, the state capital, restaurants, Bush Park, Willamette University, and Tokyo University. The property includes addresses 1525-1535 Lee St SE. The seller is a licensed realtor in Oregon and would like to rent back, providing instant renter income. The lot size is 0.14 acres, and the property size is 4262 square feet.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$78.3k	$18.36
− Vacancy	−$5.1k	−$1.20
EGI	$73.1k	$17.16
− OpEx	−$21.9k	−$5.15
NOI	$51.2k	$12.01

4,262 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$731.2K

$639.8K – $853.1K (±1% cap)

NOI $51,187 @ 7.0% cap · market cap 6.41%

Second Best

Apartment 5plus

$673.4K

$589.2K – $785.7K (±1% cap)

NOI $47,139 @ 7.0% cap · market cap 5.90%

Theoretical Best

Office A

$1.13M

$990.2K – $1.32M (±1% cap)

NOI $79,212 @ 7.0% cap · market cap 9.91%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -123.025546
Latitude: 44.928491

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For sale
Duplexes
OR
Salem
97302
1525 SE LEE St

What type of property is this?

Duplex - Duplex with ADU and Airbnb potential in Salem, Oregon.

Where is this duplex located?

The property is located at 1525 SE LEE St Salem, OR.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: Duplex property at 1525–1535 Lee St SE; 2019 construction with forced air heating; 8 bedrooms and 6 bathrooms across the duplex

1525 SE LEE St, Salem, OR 97302

MULTI_FAMILY - Salem, OR

Property Features for 1525 SE LEE St

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Duplex with Two 3BR Units

Downtown Multi-Family Investment

Multifamily Apartment Building with Laundry

Detached 4-Unit Multifamily Property

Well-Maintained Multifamily Investment Opportunity

Manufactured Home Duplex on Acreage

Duplex with Attached Garages

Multi-Tenant Retail Strip Center

Salem Duplex with Garages

Retail Storefront Property

Remodeled Duplex on Corner Lot

Two-Unit Residential Income Duplex

FAQs