Triplex with Private
For Sale
$549,900
1848 Lansing Av NE, Salem, OR 97301
Multi Family, Salem, OR
Property Size2,250 SF
Lot Size0.18 Acres
Price / SF$244.40
Days on Market47
Property Features for 1848 Lansing Av NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM2
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 1
Patio and Porch features
Patio
Lot features
Common Area, Lot: 11
View
Territorial
Elementary school
Englewood
Middle school
Parrish
High school
North Salem
Standard status
Active
APN
588453
Size
2,250 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4170
Building Details
Year built
1965
Number of units
3
Flooring type
Laminate
Roof type
Shingle
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
VITALY ORMANJI · License #201239333
(503) 200-7786
Added: Aug 21
Changed: Sep 28
Last Checked: Oct 6 at 1:06PM
MLS# 844817
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 three-unit property contains 2,250 square feet across a 0.18-acre parcel. Each residence is configured with two bedrooms and one bathroom, and has its own private backyard. Laminate flooring and patios are among the recorded features; the roof is shingle. The property was built in 1965 and is zoned RM2.
Located in Salem, the property offers a defined triplex configuration with outdoor space assigned to each unit.
Located in Salem, the property offers a defined triplex configuration with outdoor space assigned to each unit.
Key Highlights
- Three units, each with 2 bedrooms and 1 bathroom
- Each residence has its own private backyard
- 2,250‑square‑foot property on 0.18 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,023
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,460
$540.5K
Cap Rate 7%
$386,043
$386.0K
Cap Rate 9%
$300,256
$300.3K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$41.3K $18.36/SF
− Vacancy
−$2.7K −$1.20/SF
EGI
$38.6K $17.16/SF
− OpEx
−$11.6K −$5.15/SF
NOI
$27.0K $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%
$540,460
Cap Rate 7%
$386,043
Cap Rate 9%
$300,256
Alternative Uses
Best Use
Multifamily LT 5
$386.0K
$337.8K – $450.4K
NOI $27,023 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$355.5K
$311.1K – $414.8K
NOI $24,886 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$597.4K
$522.7K – $697.0K
NOI $41,818 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
789
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Each residence has two bedrooms, one bathroom, and a private outdoor area.
Where is this triplex located?
The property is located at 1848 Lansing Av NE Salem, OR.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 bathroom; Each residence has its own private backyard; 2,250‑square‑foot property on 0.18 acres
