1338 3Rd St Salem, OR 97304
- Apartment buildings
- 2,880 SF
- 0.18 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1338 3Rd St
- Year built
- 1967
- Lot size
- 0.18 lot acres
- Property size
- 2,880 SF
- Property type
- Apartment buildings
Description
This 2-story, 2,880 square foot apartment building, constructed in 1967, presents a compelling investment opportunity. Located at 1338 3rd St NW, Salem, OR 97304, this property sits on a 0.18-acre lot and is zoned RM2. The building comprises four units, each a 2-bedroom, 1-bathroom apartment of approximately 720 square feet. Three units are currently rented, generating monthly income of $1300, $1350, and $1295 respectively. One unit is vacant and available for immediate showing. Recent improvements include updated counters, flooring, vanities, fresh paint, and a newly striped parking lot. Six off-street parking spaces and on-site laundry facilities are provided for residents. The property's APN is 260738. This well-maintained multifamily property offers a strong return on investment with potential for further appreciation. The asking price is $729,000.
Value Estimation
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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
- Polk
- State
- Oregon
- Longitude
- -123.062
- Latitude
- 44.9412
