Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

932 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Salem Parkway Apartments 2520 Hyacinth St NE 117 Unit Apartment Building $18,063,761 CAD ($154,391 CAD/Unit) 6.20% Cap Rate Salem, OR 97301

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Executive Summary

Salem Parkway Apartments is a 117-unit multifamily community offering investors the opportunity to acquire a stabilized asset at an attractive basis of approximately $111,100 per unit—well below estimated replacement cost. Recent ownership has invested more than $1.1 million in capital improvements, including extensive building envelope, roofing, parking lot, security, and mechanical upgrades, significantly reducing near-term capital expenditure needs while select renovated interiors provide additional upside. Situated on three tax lots, the property also offers a rare value-add component through the potential for future expansion, with preliminary plans envisioning an additional 62 units. Complementing its strong physical fundamentals, Salem Parkway benefits from professional on-site management, ample parking, and a desirable North Salem location with convenient access to Interstate 5, major employers, shopping, dining, recreation, and public transit, supporting long-term occupancy and stable cash flow.

Property Facts

Price	$18,063,761 CAD	Building Class	C
Price Per Unit	$154,391 CAD	Lot Size	3.63 AC
Sale Type	Investment	Building Size	71,705 SF
Cap Rate	6.20%	Average Occupancy	98%
No. Units	117	No. Stories	3
Property Type	Multifamily	Year Built	1971
Property Subtype	Apartment	Parking Ratio	2.58/1,000 SF
Apartment Style	Garden
Zoning	CR

Price	$18,063,761 CAD
Price Per Unit	$154,391 CAD
Sale Type	Investment
Cap Rate	6.20%
No. Units	117
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	3.63 AC
Building Size	71,705 SF
Average Occupancy	98%
No. Stories	3
Year Built	1971
Parking Ratio	2.58/1,000 SF
Zoning	CR

Unit Amenities

Heating
Kitchen

Refrigerator
Oven

Tub/Shower
Walk-In Closets

Freezer

Site Amenities

Laundry Facilities

Maintenance on site

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
1+1	92	-	565
2+1	24	-	765
3+1	1	-	1,365

Links

Download Offering Memorandum

1 1

Aerial
Map

2520 Hyacinth St NE, Salem, OR - Aerial map view

Fairly walkable

50/100

Exceptionally drivable

100/100

Some public transit

40/100

Fairly bikeable

40/100

Source: Local Logic^®

ENERGY STAR certified buildings save energy and help protect the environment.

ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.