Well-Maintained Multifamily Investment
4212 47TH Ave NE Salem, OR 97305
For Sale
$1,500,000
MULTI_FAMILY - Salem, OR
Property Size6,900 SF
Lot Size0.17 Acres
Price / SF$217.39
Days on Market176
Property Features for 4212 47TH Ave NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RSFR
- Bedrooms
- 12
- Bathrooms
- 12
- Rooms
- Bathroom 4, Bathroom 7, Bathroom 1, Bathroom 9, Bedroom 8, Bedroom 9, Bedroom 7, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 6, Bathroom 10, Bedroom 10, Bedroom 5, Bathroom 8, Bathroom 12, Bathroom 2, Bathroom 5, Bedroom 3, Bedroom 1, Bathroom 11, Bedroom 12, Bedroom 11
- Standard status
- Active
- APN
- 546025
- Size
- 6,900 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- COLLEGE PARK ESTATES, BLOCK 1, LOT 1, ACRES 0.17
- Tax Annual Amount
- 10437
Utilities
- Heating system
- Zoned
Building Details
- Year built
- 1972
- Floors in Building
- 2
- Number of units
- 6
- Roof type
- Composition
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Dawn Cordiner
(503) 309-0093
Added: Jan 29
Changed: Jul 9
Last Checked: Jul 24 at 10:06PM
MLS# 585195910
Copyright © 2026 Regional Multiple Listing Services. 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 portfolio features three well-maintained duplexes located on a quiet residential street in Salem. The properties, addressed at 4212, 4222, and 4252 47th Ave NE, are offered together, with the potential to finance each duplex individually. Each building is separately addressed, allowing for individual lending, which provides flexibility for investors who may want to structure multiple loans, diversify risk, or plan for future individual disposition. The portfolio is professionally managed and fully occupied, providing stable income from day one. The buildings feature consistent two-story designs with matching layouts, pitched roofs, and clean exterior lines. Each duplex offers two units with similar floor plans, generous natural light, and functional interiors. Units include well-sized living areas, practical kitchens with ample cabinetry and counter space, and comfortable bedroom layouts. Each property has its own driveway and off-street parking, along with simple, low-maintenance landscaping. The properties are well-positioned within an established residential neighborhood, with convenient access to local services and amenities. Rents are in place and supported by current market conditions, offering immediate income without reliance on aggressive projections. The similar construction and layout across all three duplexes create operational efficiency while still allowing each property to be financed, held, or sold separately in the future. This is a strong opportunity for investors seeking small multifamily assets with flexible financing options, professional management in place, and long-term hold potential. The total property size is 6900 square feet and the lot size is 0.17 acres.
Key Highlights
- Portfolio of three duplexes at 4212, 4222, and 4252 47th Ave NE in Salem
- All duplexes built in 1972 with consistent two‑story designs, pitched roofs, and composition roofs
- Fully occupied portfolio with in‑place rents providing immediate income
Financial Insights For Multifamily LT 5
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 | $126.7k | $18.36 |
| − Vacancy | −$8.3k | −$1.20 |
| EGI | $118.4k | $17.16 |
| − OpEx | −$35.5k | −$5.15 |
| NOI | $82.9k | $12.01 |
6,900 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.04M – $1.38M
NOI $82,870 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$1.09M
$954.0K – $1.27M
NOI $76,316 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,241 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Three duplexes in Salem, OR, fully occupied and professionally managed.
Where is this duplex located?
The property is located at 4212 47TH Ave NE Salem, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Portfolio of three duplexes at 4212, 4222, and 4252 47th Ave NE in Salem; All duplexes built in 1972 with consistent two‑story designs, pitched roofs, and composition roofs; Fully occupied portfolio with in‑place rents providing immediate income
