Back to Search

Six-Unit Cottage Cluster Investment

648 Breys Avenue Northeast, Salem, OR 97301

View on Map

For Sale

$995,000

Well-maintained six-unit cottage cluster in a quiet neighborhood.

Type:Multi Family

Property size:

4,746 SF

Price / SF:

$209/SF

HighLights

Excellent tenant history indicates a reliable income stream.
6‑unit cottage cluster offers significant investment potential.
Updated kitchens enhance property value and tenant appeal.
Hardwood floors provide desirable aesthetic and durability.
Well‑maintained property minimizes immediate repair costs.
Quiet neighborhood increases tenant retention and desirability.

We can help!

Listing Contact

Dana Burk

Learn more

For Sale

$995,000

Well-maintained six-unit cottage cluster in a quiet neighborhood.

Type:Multi Family

Property size:

4,746 SF

Price / SF:

$209/SF

Added:: Mar 12, 2026
Days on Market:: 97
Last Refresh:: Mar 17 at 12:31 am

Property Features for 648 Breys Avenue Northeast

General Information

Standard status: Active
Size: 4,746 SF
Property subtype: Multi Family

Building Details

Year Built: 1950

We can help!

Listing Contact

Dana Burk

Listing agent Dana Burk License #200302137

Listing office Keller Williams Capital City

Listing date Mar 12, 2026

Source Compass

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 Capital City

HighLights

Excellent tenant history indicates a reliable income stream.
6‑unit cottage cluster offers significant investment potential.
Updated kitchens enhance property value and tenant appeal.
Hardwood floors provide desirable aesthetic and durability.
Well‑maintained property minimizes immediate repair costs.
Quiet neighborhood increases tenant retention and desirability.

Overview

This is a six-unit cottage cluster located in a quiet neighborhood. The property is well-maintained and features alley parking, zonal heat, and hardwood floors. The kitchens have been updated. The property has a history of excellent tenants. The owner is responsible for water, sewer, and landscape maintenance. Tenants are responsible for garbage and electric utilities. The property size is 4,746 square feet, making it a potentially attractive investment opportunity.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$102.5k	$21.60
− Vacancy	−$7.1k	−$1.49
EGI	$95.4k	$20.11
− OpEx	−$42.9k	−$9.05
NOI	$52.5k	$11.06

4,746 SF · lease $21.60/SF/yr · vacancy 6.90% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$749.9K

$656.2K – $874.9K (±1% cap)

NOI $52,492 @ 7.0% cap · market cap 5.28%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,207 @ 7.0% cap · market cap 8.87%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -123.0126585
Latitude: 44.9407894

Nearby Similar for Sale

$549,900

2,272 SF

Dual Living Opportunity in Salem

Two homes on a 10,000+ sq ft lot.

3392 Sunnyview Rd NE, Salem, OR 97301

View Details
$580,000

2,525 SF

Two-Building 4-Unit Residential Property

A fully rented two-building rental setup in Salem with multiple unit types and on-site parking.

1385 HINES St, Salem, OR 97302

View Details
$699,900

2,704 SF

Downtown Multi-Family Investment

Six-unit converted home with individual water and electric meters, offering a flexible studio-to-two-bedroom unit mix.

1196 Chemeketa St NE, Salem, OR 97301

View Details
$899,900

5,278 SF

Multifamily Apartment Building with Laundry

Two-bedroom, one-bath units with off-street parking, on-site laundry, and electric heat with separate meters.

1341 Saginaw St S, Salem, OR 97317

View Details
$550,000

2,282 SF

Detached 4-Unit Multifamily Property

Detached fourplex with private entrances, separate utilities, fenced courtyard, and off-street parking near downtown Salem.

771 21st St SE, Salem, OR 97301

View Details
$850,000

3,907 SF

Six-Unit Multifamily Building

Six well-kept residential units on a 0.42-acre lot with covered porches and carport parking for five cars.

2245-2285 Breyman St NE, Salem, OR 97301

View Details
$1,500,000

6,900 SF

Well-Maintained Multifamily Investment Opportunity

Three duplexes in Salem, OR, fully occupied and professionally managed.

4212 47TH Ave NE, Salem, OR 97305

View Details
$665,000

4,192 SF

Manufactured Home Duplex on Acreage

Two well-maintained manufactured homes on a 0.58-acre lot offer flexible living and rental options.

4455 Blueberry (-4445) Ln NE, Salem, OR 97305

View Details
$450,000

2,000 SF

Duplex with Attached Garages

Two 2-bedroom, 1-bath units each with an attached 1-car garage and private backyard space.

3441 Livingston St NE, Salem, OR 97301

View Details
$425,000

2,118 SF

Corner-Lot Duplex with Private Yards

Two updated 1-bedroom units on a corner lot, each with private yards, laundry, and dedicated addresses.

836 ELDIN Ave, Salem, OR 97317

View Details
$450,000

2,000 SF

Salem Duplex with Garages

Duplex in Salem with garages and private backyards.

3441 LIVINGSTON St, Salem, OR 97301

View Details
$799,000

4,262 SF

Duplex with Income Potential

Duplex with ADU and Airbnb potential in Salem, Oregon.

1525 SE LEE St, Salem, OR 97302

View Details

For sale
Apartment buildings
OR
Salem
97301
648 Breys Avenue Northeast

What type of property is this?

Apartment building - Well-maintained six-unit cottage cluster in a quiet neighborhood.

Where is this apartment building located?

The property is located at 648 Breys Avenue Northeast Salem, OR.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Excellent tenant history indicates a reliable income stream.; **6‑unit cottage cluster offers significant investment potential.**; Updated kitchens enhance property value and tenant appeal.