Cottage Cluster
For Sale
Contact for pricing
1735 Market St NE, Salem, OR 97301
Residential income property configured as a cottage cluster at 1735 Market St NE in Salem, Oregon.
Property Size5,659 SF
Price / SF$212.05
Days on Market134
Property Features for 1735 Market St NE
General Information
Standard status
Active
Size
5,659 SF
Property subtype
Multifamily
Building Details
Year Built
1949
Listing Agency:
Chet Graham
(503) 343-5825
Listed By:
Chet Graham · License #OR 910800166
Source:
Crexi
Added: Mar 23
Changed: Jul 20
Last Checked: Aug 2 at 5:17AM
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 Chet Graham
Investment Insights
Based on property information with market context.
This cottage cluster is offered as a residential income multifamily property, classified as “other multifamily properties.” The offering size is 5,659 square feet.
The property is located at 1735 Market St NE in Salem, Oregon (97301).
As presented, the asset’s defining feature is its cottage cluster configuration, which may appeal to buyers seeking a multifamily setup organized around multiple smaller units rather than a single large structure. Additional details on unit mix, condition, and tenancy are not provided in the available information.
The property is located at 1735 Market St NE in Salem, Oregon (97301).
As presented, the asset’s defining feature is its cottage cluster configuration, which may appeal to buyers seeking a multifamily setup organized around multiple smaller units rather than a single large structure. Additional details on unit mix, condition, and tenancy are not provided in the available information.
Key Highlights
- Residential income property configured as a cottage cluster
- Located at 1735 Market St NE in Salem, Oregon
- Built in 1949
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.2k | $21.60 |
| − Vacancy | −$8.4k | −$1.49 |
| EGI | $113.8k | $20.11 |
| − OpEx | −$51.2k | −$9.05 |
| NOI | $62.6k | $11.06 |
5,659 SF · lease $21.60/SF/yr · vacancy 6.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$894.1K
$782.4K – $1.04M
NOI $62,590 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,176 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
872
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property configured as a cottage cluster at 1735 Market St NE in Salem, Oregon.
Where is this multifamily property located?
The property is located at 1735 Market St NE Salem, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Residential income property configured as a cottage cluster; Located at 1735 Market St NE in Salem, Oregon; Built in 1949
