$499,000 SALE
2,222 SF
573 19th Street SE
Salem, OR 97301 Ira and Hattie Erb House

Charming multi-family investment opportunity. Built in 1895, this historic property is known as the Ira and Hattie Erb House. The main area consists of 1,522 SF + 700 SF upstairs, and features 5 bedrooms 2 bathrooms, and is fully furnished. It is currently set up as a boarding house with 5 tenants. The exterior of the house was painted in 2020. The upstairs was renovated in 2008 and the kitchen was renovated in 2009. RM2 zoning also means some commercial activity is outright permitted, such as a hotel, boarding house, senior care, green nursery (wholesale), etc. Buyer to do due diligence on adjacent lot development. All square footage references are approximate. The information contained herein is from sources deemed reliable. It is provided without representation, warranty or guarantee, expressed or implied as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification of all matters.

Property Type Multi-Family
Year Built 1895
Level Number 2
Sub-Lease 5
Zoning RM2
Tax Year 2020
Cap Rate Percentage 5.81
Listing ID CEGKY2
MLS ID 773088
Style Other Style
Building Size 2,222 SF
Lot Size 0.31 AC
Taxes $2,601

Property Highlights

1.5 Miles to Downtown Salem

Oversized Lot

Well Maintained Historic Property

5.81% Proforma Cap Rate

Area Description

Area Description: Located on 19th Street and Oak Street, about 1.5 miles from downtown Salem. Nearby businesses include Northwet Watercraft, Willamette Table Tennis Club, and Oregon Department of Human Services Self Sufficiency Office.

Region: Salem

Region: Oregon

Region: North America

Region: USA

Property Features
Full Bath: 2
Water: City Water
Age: Over 50 Years Old
Lot Size: Under 1/2 Acre
Sewer: City
Additional Media Area Demographics