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South Salem Fourplex Investment Opportunity

1480 Salishan St SE, Salem, OR 97302

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For Sale

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Well-maintained four-unit property with stable tenants in South Salem.

Type:Multifamily

Property size:

4,096 SF

Price / SF:

$183/SF

HighLights

Well‑maintained 4‑unit property in central South Salem location.
Each unit is a spacious 1,024 SF townhome‑style with 2 beds and 1.5 baths.
Newer roof and exterior paint.
Stable tenants with long‑term rental history.
Private decks and washer/dryer hookups in each unit.
Off‑street parking for residents.

We can help!

Contact an agent

JORDAN SPARKS

For Sale

Contact for pricing

Well-maintained four-unit property with stable tenants in South Salem.

Type:Multifamily

Property size:

4,096 SF

Price / SF:

$183/SF

Added:: Mar 11, 2026
Days on Market:: 109
Last Refresh:: Mar 19 at 10:33 pm

Property Features for 1480 Salishan St SE

General Information

Standard status: Active
Size: 4,096 SF
Property subtype: Multifamily

Building Details

Year Built: 1977

We can help!

Contact an agent

JORDAN SPARKS

Listing office SMI Real Estate

Listing date Mar 11, 2026

Source Crexi

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 SMI Real Estate

HighLights

Well‑maintained 4‑unit property in central South Salem location.
Each unit is a spacious 1,024 SF townhome‑style with 2 beds and 1.5 baths.
Newer roof and exterior paint.
Stable tenants with long‑term rental history.
Private decks and washer/dryer hookups in each unit.
Off‑street parking for residents.

Overview

This well-maintained four-unit property is located in South Salem. Each of the four units is a spacious 1,024 square-foot townhome-style layout, featuring 2 bedrooms and 1.5 bathrooms. Units also include private decks and washer/dryer hookups. The property benefits from a newer roof and exterior paint. Off-street parking is available for residents. The property has stable tenants with a long-term rental history, presenting a solid investment opportunity.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$75.2k	$18.36
− Vacancy	−$4.9k	−$1.20
EGI	$70.3k	$17.16
− OpEx	−$21.1k	−$5.15
NOI	$49.2k	$12.01

4,096 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$702.8K

$614.9K – $819.9K (±1% cap)

NOI $49,194 @ 7.0% cap · market cap 6.56%

Second Best

Apartment 5plus

$647.2K

$566.3K – $755.1K (±1% cap)

NOI $45,303 @ 7.0% cap · market cap 6.04%

Theoretical Best

Office A

$1.09M

$951.6K – $1.27M (±1% cap)

NOI $76,127 @ 7.0% cap · market cap 10.15%

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

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -123.0238134
Latitude: 44.9080834

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For sale
Quadplexes
OR
Salem
97302
1480 Salishan St SE

What type of property is this?

Quadplex - Well-maintained four-unit property with stable tenants in South Salem.

Where is this quadplex located?

The property is located at 1480 Salishan St SE Salem, OR.

What is the asking price?

The asking price for this property is $749,900.

What are key features of this property?

This property features: Well‑maintained 4‑unit property in central South Salem location.; Each unit is a spacious 1,024 SF townhome‑style with 2 beds and 1.5 baths.; Newer roof and exterior paint.