Multi-family investment opportunity! 28 units located on two tax lots on the busy Liberty Street Corridor. There are 6 buildings in total. The property features an office and a coin-operated laundry room that is approximately ±1,388 SF. The unit mix includes: 26 | 592 SF | 1-bedroom 1-bath units 2 | 650 SF | 2-bedroom 1-bath units About 60% of the units have been renovated including new heating, sinks, countertops, and paint. Increased rent for the 9 remaining unrenovated units will occur once renovations are complete. Price is based upon manager raising rents to market starting January 2021. They believe that this process should take about 1 year to complete.
|Style||Multi-Family (5-20 Units)|
|Building Size||18,080 SF|
|Lot Size||0.56 AC|
City Inspections Performed in 2019
Prime Location Close to Downtown Salem
Majority of Water Heaters Replaced in 2019
100% OccupancyArea Description
Area Description: Located on Liberty Street near Bush Street and Owens Street. The subject property is within walking distance to Bush Park and less than a half of a mile to downtown.
Region: North America
|Age:||41-50 Years Old|
|Lot Size:||1/2 - 1 Acre|