Current Use by Public Records
- Apartment buildings
Property Details for 2431 Strong Hts Ln
- Year built
- 2024
- Lot size
- 0.06 lot acres
- Property type
- Apartment buildings
Description
This exceptional 24-unit apartment complex presents a compelling investment opportunity in Salem, Oregon's thriving Fairview area. Comprising twelve three-story buildings, each unit boasts modern amenities including private garages, private entrances, stacked washer/dryer units, granite countertops, stainless steel appliances, and modern recessed lighting. Hard surface flooring throughout adds to the sophisticated feel. The efficient design maximizes space and functionality. Each building offers a main-level bedroom with a private entrance, plus access to upper-level units via a shared common area entrance. Built in 2024, this new construction adheres to the latest building codes and energy standards, ensuring both efficiency and longevity. The property sits on lots ranging from 0.06 to 0.17 acres and offers a total square footage ranging from 2,614 to 7,405 square feet. The complex benefits from its prime location adjacent to a future city park, promising continued growth and high demand. With a 5.98% cap rate and a price per unit of $291,625, or $583,250 per building, this portfolio represents a strong return on investment. The FMU zoning designation further enhances its potential. This is a turnkey opportunity for discerning investors seeking a high-quality, high-performing multifamily asset in a rapidly developing area.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.011
- Latitude
- 44.8972
