New Multifamily Infill
For Sale
$990,000
1380 Saginaw St S, Salem, OR 97302
New multifamily property in desirable location near central business district.
Property Size3,120 SF
Price / SF$317.31
Days on Market142
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Property Features for 1380 Saginaw St S
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
CAPACITY COMMERICAL GROUP LLC
Listed By:
GEORGE GRABENHORST · License #870500042
(503) 588-7395
Source:
Amymcleod
Added: May 27
Changed: Oct 15
Last Checked: Oct 7 at 3:45PM
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 CAPACITY COMMERICAL GROUP LLC
Investment Insights
Based on property information with market context.
This new infill development features a multifamily property with a total size of 2884 square feet. The property includes two 2-bedroom/2-bath units and two 1-bedroom/1-bath units. It is situated in a desirable and quiet location, approximately six blocks from the central business district.
Key Highlights
- New infill development.
- Desirable and quiet location.
- Close proximity (6 blocks) to the central business district.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,472
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,440
$749.4K
Cap Rate 7%
$535,314
$535.3K
Cap Rate 9%
$416,356
$416.4K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$57.3K $18.36/SF
− Vacancy
−$3.8K −$1.20/SF
EGI
$53.5K $17.16/SF
− OpEx
−$16.1K −$5.15/SF
NOI
$37.5K $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%
$749,440
Cap Rate 7%
$535,314
Cap Rate 9%
$416,356
Alternative Uses
Best Use
Multifamily LT 5
$535.3K
$468.4K – $624.5K
NOI $37,472 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$493.0K
$431.4K – $575.1K
NOI $34,508 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$828.4K
$724.8K – $966.5K
NOI $57,987 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,864
Businesses Nearby
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - New multifamily property in desirable location near central business district.
Where is this quadplex located?
The property is located at 1380 Saginaw St S Salem, OR.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: New infill development.; Desirable and quiet location.; Close proximity (6 blocks) to the central business district.
