Building Details

Year Built 1937

Listing Agency: Bridgetown Equity Prop LLC m***@bridgetownequityproperties.com Show Phone

Listed By: Michael Bivens Show Phone

Source: Compass

Added: Dec 8, 2025 Changed: Aug 30 Last Checked: Aug 31 at 1:16AM

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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 Bridgetown Equity Prop LLC

Investment Insights

Based on property information with market context.

This three-unit multifamily property at 581-595 Highland Avenue Northeast in Salem includes renovated units within a building constructed in 1937. The property is fully occupied, with the seller using one unit and the other two subject to leases.

The building features wood siding, composition roofing, and slab construction. RS zoning applies to the property, and the reported actual cap rate exceeds 6%.

Key Highlights

• Three‑unit multifamily property
• All units have been renovated
• Fully occupied with two leased units

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick HVAC Service Bakery (Bike/Boat/Book/etc) Store Veterinary Clinic Parking Lot & Garage Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

1,054

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

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Triplex - Renovated multifamily property with full occupancy and RS zoning.

Where is this triplex located?

The property is located at 581-595 Highland Avenue Northeast Salem, OR.

What is the asking price?

The asking price for this property is $535,000.

What are key features of this property?

This property features: Three‑unit multifamily property; All units have been renovated; Fully occupied with two leased units