Opportunity to purchase a 201-unit apartment complex currently under construction, ETA for completion July 2024. Located in the expanding community of West Salem, this project is in the horizontal phase & will be a 3-story multiplex complete w/ fitness center, resident pool & clubhouse, walking trail/green space & on-site management office. Development is located off Wallace Rd, adjacent to neighboring retail development which includes a small shopping center, food truck, and pavilion.
- Price:
- $57,555,000
- Square Footage:
- 194,800
- Year Built:
- 2022
- Listing ID #:
- 22218653
- Street Address:
- 2499 -2539 Wallace Rd
- City:
- Salem
- State:
- Oregon
- Postal Code:
- 97304
- County:
- Polk
- Community:
- 168 - Polk Co: West Salem N
- Subdivision:
- Riverbend Apartments
- Listing Status:
- Active
- Listing Type:
- Multi Family
K-5
500 students
22 student/teacher
6-8
685 students
20 student/teacher
9-12
1718 students
21 student/teacher
- Building Condition:
- New Construction
- Exterior Description:
- Cement Siding
- Foundation:
- Slab
- Number Of Units:
- 202
- Rent Includes:
- Maintenance Grounds, Trash Collection
- Stories:
- 3
- Total Building Square Footage:
- 194800
- Type Of Roof:
- Composition
- Year Built:
- 2022
- Gross Income:
- 4546756
- Net Operating Income:
- 3260666
- Operating Expense:
- 1058752
- Approximate Total Acres:
- 7 To 9.99 Acres
- Conforms To Zoning:
- Multi
- Road Type:
- Paved
- Community Features:
- Recreation Facilities
- Days On Market:
- 179
- On Market Date:
- 2022-12-02
- Originating Mls:
- Regional Multiple Listing Service, Inc.
- Previous Listing Price:
- 49000000
- Property Disclosures:
- Disclosure
- Terms:
- Cash, Conventional
- Property Taxes:
- $323,000
- Tax Year:
- 2023
- Parking Description:
- Assigned
- Existing Water:
- Public Water
- Heating:
- Mini Split
- Heating Fuel:
- Electricity
- Sewage Type:
- Public Sewer
- Water Heater:
- Electricity
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By: Christine Folz ORBroker@TheRealBrokerage.com with Real Broker
-
All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated 5/30/2023 7:32 PM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
