Towne South Apartments, LLC – $995,000 – 7.8% Cap Rate – SOLD

Multifamily | For Sale

Price: $995,000

 SOLD!

Town South Apartments, LLC

Salem, Oregon

18 unit – Garden Low-Rise complex 

7.8 % Cap Rate

Current financials not proforma! 

Spacious  mix consisting of  

6 units – 1 bedroom 1 bath, 810 sqft  

12 units – 2 bedroom 1 bath, 840 sqft  

 Blocks from local stores and other amenities.

Towne South has many upgrades which include, but not limited to New Energy efficient windows, sliding patio/deck doors, front doors, door jams and insulation.  The exterior renovation includes, new decking,  all new  paint and new lighting fixtures have been installed.  Most units have newer water heating systems, carpets/flooring and paint. 

The swimming pool has new surface, drainage system (complying with the pools/spa laws) & newer pump/filtering system.  There is space on the  property to add a Hot Tub or Spa or possibly more units (verify with city planning/zoning).  

Recreation room includes some equipment.   

Laundry facilities on site.

Towne South is within  miles of the Salem Renewable energy park, which Sanyo has a solar cell facility,  along with other major companies.

Call for Financials 

 

 

Features

Number of Units: 18

Unit Mix: 6-1/1, 12-2/1

Year Built: 1968

Lot Size: 28314

Website:

MLS #: 10077349

Features:

Contact Liz Carpenter