Quadplex with Attached
For Sale
$1,450,000
1145 Lupin Ln NW, Salem, OR 97304
Multi Family, Salem, OR
Property Size5,522 SF
Lot Size0.20 Acres
Price / SF$262.59
Days on Market47
Property Features for 1145 Lupin Ln NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RS
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 7, Bedroom 12, Bathroom 7, Bedroom 10, Bathroom 9, Bathroom 1, Bedroom 8, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 11, Bedroom 3, Bathroom 5, Bathroom 11, Bathroom 8, Bathroom 10, Bathroom 2, Bedroom 2, Bathroom 12, Bedroom 9, Bathroom 6, Bathroom 4, Bedroom 1
Patio and Porch features
Patio
Subdivision
Watkins Addition
Lot features
Dimension Above, Lot: 9
Middle school
Straub
High school
West Salem
Directions
Orchard Heights to West Way to Lupin
Standard status
Active
Size
5,522 SF
Lot size
0.20 Acres
Utilities
Heating system
Zoned, Ductless (Heating), Forced Air, Electric (Heating)
Amenities
LVP flooring
quartz countertops
attached garage
air conditioning
fenced yard
artificial turf
appliances included
Building Details
Year built
2026
Number of units
4
Flooring type
Vinyl
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
MARK FARROW
(503) 559-9901
Added: Aug 21
Changed: Sep 29
Last Checked: Oct 6 at 2:06PM
MLS# 844894
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction quadplex contains four residences, each with three bedrooms and two-and-a-half bathrooms. The 5,522-square-foot property sits on a 0.2-acre lot and is zoned RS. Unit finishes and features include LVP flooring, quartz countertops, air conditioning, and an attached single-car garage. Appliances, including refrigerators, washers, and dryers, are included with each unit; yards are fenced and landscaped with artificial turf.
The property is in Salem, near parks, schools, and everyday amenities. A patio is also listed among the property features.
The property is in Salem, near parks, schools, and everyday amenities. A patio is also listed among the property features.
Key Highlights
- Four residences, each with 3 bedrooms and 2.5 bathrooms
- 5,522 square feet on a 0.2‑acre lot
- Each unit has an attached single‑car garage and fenced, landscaped yard with artificial turf
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,320
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,326,400
$1.3M
Cap Rate 7%
$947,429
$947.4K
Cap Rate 9%
$736,889
$736.9K
Market Conditions
NOI Build-Up for 5,522 SF
Gross rent
$101.4K $18.36/SF
− Vacancy
−$6.6K −$1.20/SF
EGI
$94.7K $17.16/SF
− OpEx
−$28.4K −$5.15/SF
NOI
$66.3K $12.01/SF
Area
Salem, OR
Vacancy
6.55%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,326,400
Cap Rate 7%
$947,429
Cap Rate 9%
$736,889
Alternative Uses
Best Use
Multifamily LT 5
$947.4K
$829.0K – $1.11M
NOI $66,320 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$872.5K
$763.4K – $1.02M
NOI $61,075 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,630 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 97304, OR
34,102
Population
14,547
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
56.8 sq mi
ZIP Area
600
Density / Sq Mi
$91,731
Median Household Income
$53,370
Median Earnings
$1,441
Median Rent
$469,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has three bedrooms, two-and-a-half baths, and a fenced, landscaped yard.
Where is this quadplex located?
The property is located at 1145 Lupin Ln NW Salem, OR.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four residences, each with 3 bedrooms and 2.5 bathrooms; 5,522 square feet on a 0.2‑acre lot; Each unit has an attached single‑car garage and fenced, landscaped yard with artificial turf
