Six-Unit Apartment
For Sale
Contact for pricing
1207-1217 D St NE, Salem, OR 97301
Uniform one-bedroom residences with individual metering, outdoor space, and off-street parking.
Property Size3,936 SF
Price / SF$200.69
Days on Market78
Property Features for 1207-1217 D St NE
General Information
Standard status
Active
Size
3,936 SF
Class
C
Total Parking Spaces
10
Property subtype
Multifamily
Zoning
RM2 (Multi-Family Residential)
Occupancy
100%
Net Operating Income
$35,382
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Amenities
off-street parking
balcony/patio
individually metered units
Building Details
Year Built
1962
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Assurance Team | Epique Realty
Listed By:
Ben Nelson · License #OR200212150
Source:
Crexi
Added: Aug 4
Changed: Oct 1
Last Checked: Oct 19 at 4:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Assurance Team | Epique Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,936-square-foot apartment property contains one building with six units, each configured as a one-bedroom, one-bathroom flat averaging approximately 656 square feet. Built in 1962, the property includes off-street parking, a balcony or patio for each residence, and individual utility metering. Several apartments have been refreshed with new flooring, interior paint, and updated appliances.
The asset is positioned in Salem’s Northeast Neighbors neighborhood, directly across from North Salem High School and Parrish Middle School. Downtown Salem, the Oregon State Capitol, and Willamette University are a short distance away. The property is zoned RM2 (Multi-Family Residential).
The asset is positioned in Salem’s Northeast Neighbors neighborhood, directly across from North Salem High School and Parrish Middle School. Downtown Salem, the Oregon State Capitol, and Willamette University are a short distance away. The property is zoned RM2 (Multi-Family Residential).
Key Highlights
- Six units averaging approximately 656 square feet each
- 3,936 SF total building area
- Uniform one‑bedroom, one‑bathroom unit layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,533
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$870,660
$870.7K
Cap Rate 7%
$621,900
$621.9K
Cap Rate 9%
$483,700
$483.7K
Market Conditions
NOI Build-Up for 3,936 SF
Gross rent
$85.0K $21.60/SF
− Vacancy
−$5.9K −$1.49/SF
EGI
$79.2K $20.11/SF
− OpEx
−$35.6K −$9.05/SF
NOI
$43.5K $11.06/SF
Area
Salem, OR
Vacancy
6.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$870,660
Cap Rate 7%
$621,900
Cap Rate 9%
$483,700
Alternative Uses
Best Use
Apartment 5plus
$621.9K
$544.2K – $725.6K
NOI $43,533 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$914.4K – $1.22M
NOI $73,153 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Uniform one-bedroom residences with individual metering, outdoor space, and off-street parking.
Where is this apartment building located?
The property is located at 1207-1217 D St NE Salem, OR.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Six units averaging approximately 656 square feet each; 3,936 SF total building area; Uniform one‑bedroom, one‑bathroom unit layout
