Townhouse-Style
For Sale
$745,000
905 Charter Pl NE, Salem, OR 97301
All three residences are occupied, with tenant-paid utilities and professional management already established.
Property Size3,744 SF
Price / SF$198.99
Days on Market71
Property Features for 905 Charter Pl NE
General Information
Standard status
Active
Size
3,744 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
North East Salem Community Association (Nesca)
Highway Access
Yes
Units
Unit Mix
3 x 3BR/2.5BA
Multifamily Units
3
Additional Details
Gross Income
$63,300
Building Details
Year Built
2001
Construction
townhouse-style
Tenancy
Multi
Listing Agency:
EXP REALTY, LLC
Listed By:
DANIEL RAMIREZ · License #201245241
(503) 508-0181
Source:
Amymcleod
Added: Aug 21
Changed: Oct 25
Last Checked: Oct 7 at 12:58PM
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 EXP REALTY, LLC
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Investment Insights
Based on property information with market context.
This three-unit residential income property at 905, 911, and 915 Charter Pl NE in Salem was built in 2001 and is configured in a townhouse-style layout. Each residence includes 3 bedrooms, 2.5 bathrooms, approximately 1,248 square feet, and an attached single-car garage. A new roof is identified for 2026.
All units are currently occupied, with tenants responsible for utilities. Professional property management is already in place, providing an established operating structure for the asset. The property is positioned near shopping, area amenities, and freeway access.
All units are currently occupied, with tenants responsible for utilities. Professional property management is already in place, providing an established operating structure for the asset. The property is positioned near shopping, area amenities, and freeway access.
Key Highlights
- Three townhouse‑style units at 905, 911 & 915 Charter Pl NE
- Each unit offers 3 bedrooms, 2.5 bathrooms, and approximately 1,248 sq ft
- Attached single‑car garage included with each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,966
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,320
$899.3K
Cap Rate 7%
$642,371
$642.4K
Cap Rate 9%
$499,622
$499.6K
Market Conditions
NOI Build-Up for 3,744 SF
Gross rent
$68.7K $18.36/SF
− Vacancy
−$4.5K −$1.20/SF
EGI
$64.2K $17.16/SF
− OpEx
−$19.3K −$5.15/SF
NOI
$45.0K $12.01/SF
Area
Salem, OR
Vacancy
6.55%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,320
Cap Rate 7%
$642,371
Cap Rate 9%
$499,622
Alternative Uses
Best Use
Multifamily LT 5
$642.4K
$562.1K – $749.4K
NOI $44,966 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$591.6K
$517.6K – $690.2K
NOI $41,410 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$994.1K
$869.8K – $1.16M
NOI $69,584 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,416
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?
Triplex - All three residences are occupied, with tenant-paid utilities and professional management already established.
Where is this triplex located?
The property is located at 905 Charter Pl NE Salem, OR.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Three townhouse‑style units at 905, 911 & 915 Charter Pl NE; Each unit offers 3 bedrooms, 2.5 bathrooms, and approximately 1,248 sq ft; Attached single‑car garage included with each residence
