760 Plymouth Dr Keizer, OR 97303

Property Details for 760 Plymouth Dr

Year built

1964

Lot size

1.89 lot acres

Property size

46,494 SF

Property type

Commercial real estate

Description

Willow Lake Apartments presents a compelling investment opportunity in the thriving Keizer, Oregon market. This multifamily property, situated at 760 Plymouth Dr NE, 97303, comprises three two-story buildings totaling 46,494 square feet of net rentable space on a 1.89-acre lot. Built in 1964, the complex boasts 57 units, offering a mix of one, two, and three-bedroom apartments, each designed for comfortable living. Ample parking is provided with 87 spaces, including reserved resident spots and guest parking. The property enjoys a convenient location, just two miles north of downtown Salem, offering easy access to Highway 99 East and Interstate 5, enhancing its appeal to a wide range of tenants. The asking price is $7,600,000, representing a price per unit of $133,333 and a 5.52% cap rate. This well-maintained property offers significant potential for strong returns and long-term growth in a desirable location. The property's central location and convenient access to major transportation routes make it an attractive option for both residents and investors. The spacious units and ample parking further enhance its desirability. This is a rare opportunity to acquire a well-established multifamily asset in a growing Oregon market.