Newer Multifamily Building in
2195 Audubon Avenue Southeast, Salem, OR 97302
Call to check price and availability
Six-unit multifamily property in master-planned sustainable community.
Type:Mixed Use
Property size:
5,985 SFLot size:
0.18 AcresPrice / SF:
$216/SF- Added:
- May 12, 2026
- Days on Market:
- 18
- Last Refresh:
- May 14 at 9:34 pm
Property Features for 2195 Audubon Avenue Southeast
General Information
- Standard status
- Active
- Size
- 5,985 SF
- Lot size
- 0.18 Acres
- Property subtype
- Mixed Use
Building Details
- Year Built
- 2024
Listing agent James Hauge License #OR 200107093
Listing office Legacy Real Estate (503) 390-1375
Listing date May 12, 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 Legacy Real Estate
HighLights
- Newly constructed 6‑plex (2024) with modern living spaces.
- Located in Salem's sustainable Pringle Creek Community with LEED‑certified architecture.
- 100% leased to qualified tenants, providing immediate income.
- Pro‑forma 5.89% cap rate at list price.
- Features a mix of 2BR/2BA units with varying sizes (892 SF and 1,100 SF).
- Access to community amenities including 12 acres of common area, gardens, and walking trails.
Overview
This is a 2024-built six-plex located within the Pringle Creek Community, a master-planned sustainable neighborhood in Salem. The community features LEED-certified architecture, 12 acres of preserved common area, community gardens, and walking trails throughout 32 acres in South Salem. The building has 5,985 square feet of leasable area and is situated on an 8,025 square foot lot. It comprises six units, all configured as two-bedroom, two-bathroom apartments. Four units offer 892 square feet of living space each, while the remaining two units provide 1,100 square feet each. Three units include assigned storage. The property is currently 100% leased to qualified tenants.
Local 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 | $129.3k | $21.60 |
| − Vacancy | −$8.9k | −$1.49 |
| EGI | $120.4k | $20.11 |
| − OpEx | −$54.2k | −$9.05 |
| NOI | $66.2k | $11.06 |
5,985 SF · lease $21.60/SF/yr · vacancy 6.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$945.7K
$827.5K – $1.10M
NOI $66,196 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,235 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.066
- Latitude
- 44.9013
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit multifamily property in master-planned sustainable community.
Where is this apartment building located?
The property is located at 2195 Audubon Avenue Southeast Salem, OR.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Newly constructed 6‑plex (2024) with modern living spaces.; Located in Salem's sustainable Pringle Creek Community with LEED‑certified architecture.; 100% leased to qualified tenants, providing immediate income.
