12-Unit Townhome Apartment
For Sale
Contact for pricing
4955-4959 Elizabeth St N, Keizer, OR 97303
Two-story residences offer private entrances, attached garages, and washer and dryer hookups.
Property Size16,500 SF
Price / SF$169.70
Days on Market100
Property Features for 4955-4959 Elizabeth St N
General Information
Standard status
Active
Size
16,500 SF
Total Parking Spaces
36
Property subtype
Multifamily
Zoning
RM
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$167,938
Units
Unit Mix
8 x 3BR/2.5BA, 4 x 2BR/2.5BA
Multifamily Units
12
Amenities
washer and dryer hookups
Building Details
Year Built
2004
Units
12
Tenancy
Multi
Listing Agency:
SMI Real Estate
Listed By:
Matt Miller · License #201254590
Source:
Crexi
Added: Jul 9
Changed: Oct 2
Last Checked: Oct 16 at 7:42AM
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 SMI Real Estate
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Investment Insights
Based on property information with market context.
This 12-unit apartment community consists of two-story townhome residences built in 2004. Each home provides 1,375 square feet of living space, a private entrance, an attached single-car garage, washer and dryer hookups, copper plumbing, and 2.5 bathrooms. The unit mix includes eight three-bedroom homes and four two-bedroom homes. Zoning is RM.
Exterior improvements completed in June 2026 include a full repaint, parking lot seal coating, and fresh striping. The property is located at 4955-4959 Elizabeth St N in Keizer, Oregon, within the Salem metro area.
Exterior improvements completed in June 2026 include a full repaint, parking lot seal coating, and fresh striping. The property is located at 4955-4959 Elizabeth St N in Keizer, Oregon, within the Salem metro area.
Key Highlights
- 12‑unit townhome apartment community built in 2004
- Unit mix includes eight 3‑bedroom and four 2‑bedroom residences
- Each residence contains 1,375 square feet of living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,697
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,333,940
$2.3M
Cap Rate 7%
$1,667,100
$1.7M
Cap Rate 9%
$1,296,633
$1.3M
Market Conditions
NOI Build-Up for 16,500 SF
Gross rent
$225.7K $13.68/SF
− Vacancy
−$13.5K −$0.82/SF
EGI
$212.2K $12.86/SF
− OpEx
−$95.5K −$5.79/SF
NOI
$116.7K $7.07/SF
Area
Marion County, OR
Vacancy
6.00%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,333,940
Cap Rate 7%
$1,667,100
Cap Rate 9%
$1,296,633
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.94M
NOI $116,697 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.88M
$3.40M – $4.53M
NOI $271,636 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 97303, OR
41,441
Population
15,740
Households
2.6
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
24.9 sq mi
ZIP Area
1,664
Density / Sq Mi
$81,057
Median Household Income
$45,034
Median Earnings
$1,361
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story residences offer private entrances, attached garages, and washer and dryer hookups.
Where is this apartment building located?
The property is located at 4955-4959 Elizabeth St N Keizer, OR.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 12‑unit townhome apartment community built in 2004; Unit mix includes eight 3‑bedroom and four 2‑bedroom residences; Each residence contains 1,375 square feet of living space
