10-Unit Apartment
New
For Sale
$2,850,000
4125 Market St NE, Salem, OR 97301
RM2-zoned residential property with a mix of one- and two-bedroom apartments.
Property Size10,083 SF
Price / SF$282.65
Days on Market2
Property Features for 4125 Market St NE
General Information
Standard status
Active
Size
10,083 SF
Property subtype
Multi-Family
Zoning
RM2
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA 1150sqft, 6 x 2BR/1BA 1050sqft, 2 x 1BR/1BA 740sqft
Multifamily Units
10
Building Details
Year Built
2024
Listing Agency:
Keller Williams Realty Mid-Willamette - Gillott Team
(541) 990-7785
Listed By:
Matin Real Estate
(503) 208-8406
Source:
Portlandrealestate
Added: Oct 19
Last Checked: Oct 19 at 2:15PM
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 Keller Williams Realty Mid-Willamette - Gillott Team
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2024, this 10-unit apartment property totals 10,083 square feet and is fully occupied. The unit mix includes eight two-bedroom, one-bathroom apartments and two one-bedroom, one-bathroom apartments. Two of the two-bedroom units measure 1,150 square feet each, while the other six are 1,050 square feet each; the one-bedroom units are 740 square feet apiece.
Apartments feature carpet and laminate flooring, along with a range, refrigerator, dishwasher, and washer and dryer in each unit. The property is zoned RM2 and is located at 4125 Market St NE in Salem, Oregon.
Apartments feature carpet and laminate flooring, along with a range, refrigerator, dishwasher, and washer and dryer in each unit. The property is zoned RM2 and is located at 4125 Market St NE in Salem, Oregon.
Key Highlights
- 10 apartments totaling 10,083 square feet
- Completed in 2024; fully occupied
- RM2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,521
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,230,420
$2.2M
Cap Rate 7%
$1,593,157
$1.6M
Cap Rate 9%
$1,239,122
$1.2M
Market Conditions
NOI Build-Up for 10,083 SF
Gross rent
$217.8K $21.60/SF
− Vacancy
−$15.0K −$1.49/SF
EGI
$202.8K $20.11/SF
− OpEx
−$91.2K −$9.05/SF
NOI
$111.5K $11.06/SF
Area
Salem, OR
Vacancy
6.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,230,420
Cap Rate 7%
$1,593,157
Cap Rate 9%
$1,239,122
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,521 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,399 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
939
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - RM2-zoned residential property with a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 4125 Market St NE Salem, OR.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 10 apartments totaling 10,083 square feet; Completed in 2024; fully occupied; RM2 zoning
