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310 McNary Ave NW - McNary Duplexes + Developable Land 4 Unit Apartment Building Offered at $789,011 CAD at a 5.43% Cap Rate Salem, OR 97304
Investment Highlights
- Fourplex + Adjacent Developable Land
- Two tax lots totaling approximately 0.51 acres
- Corner positioning with front and rear access potential
- Value-Add & Redevelopment Opportunity
- Strong Salem Rental Demand Fundamentals
- ESMU zoning with multifamily development potential
Executive Summary
Colliers is pleased to present 310 McNary Ave NW, a multifamily redevelopment opportunity located in Salem, Oregon. The offering consists of an existing four-unit multifamily property and an adjacent parking lot situated across two tax lots, presenting investors and developers with the opportunity to generate in-place income while exploring future development potential.
Positioned on approximately 0.51 acres, the property offers excess land that may support additional multifamily density, subject to buyer verification. The site benefits from its corner positioning, existing paved parking field, and proximity to major commuter routes, neighborhood amenities, and employment centers throughout Salem.
With existing cash flow and long-term redevelopment potential, 310 McNary Ave NW presents a compelling opportunity to acquire a covered land play within an established residential submarket.
Positioned on approximately 0.51 acres, the property offers excess land that may support additional multifamily density, subject to buyer verification. The site benefits from its corner positioning, existing paved parking field, and proximity to major commuter routes, neighborhood amenities, and employment centers throughout Salem.
With existing cash flow and long-term redevelopment potential, 310 McNary Ave NW presents a compelling opportunity to acquire a covered land play within an established residential submarket.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 4 | - | 547 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 258685 | Improvements Assessment | $260,014 CAD |
| Land Assessment | $80,548 CAD | Total Assessment | $340,562 CAD |
Property Taxes
Parcel Number
258685
Land Assessment
$80,548 CAD
Improvements Assessment
$260,014 CAD
Total Assessment
$340,562 CAD
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310 McNary Ave NW - McNary Duplexes + Developable Land
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