201-307 Trees Ct 30 Unité Immeuble d’appartements 10 120 420 $ CAD (337 347 $ CAD/Unité) 5,51% Taux de capitalisation Silverton, OR 97381

NEW TO MARKET: 7.43% pro-forma cap rate!
Trees Court is a 30-unit, single-level duplex/triplex style community with significant value-add upside in one of Salem’s most desirable suburban rental submarkets.
Trees Court is located in Silverton, a historically strong performing submarket with low vacancy and room to grow rents. The units were built at various times starting in 1980 and currently consist of 14 buildings on 5.5 acres of land. The unit mix is comprised of 25 two-bed/one-bath units and 5 two-bed/two-bath units averaging ±1,200 SF, each with attached garages in between units for near zero shared walls, creating a true single-family neighborhood feel.
Located just blocks from historic downtown, this neighborhood of plexes blends suburban calm with walkable convenience. Tenants enjoy the abundant green space with individual front and private, fenced backyards, of f-street parking, private garages, and in-unit washer/dryer.
Approximately 25% of the units have been substantially renovated over the last couple years with the most recently turned unit renting for $2,025. Renovations include luxury vinyl plank flooring, new kitchens and new fixtures. With the current average rents for all units at $1,608 (~21% below market) and the unrenovated units averaging $1,445 (~29% below market), the property has significant value-add for a new investor through a proven renovation model. Other recent capital improvements include new exterior paint on all buildings, roof replacements, and a seal coat of the street.
Trees Court is conveniently located in a residential neighborhood within walking distance of Silverton’s quaint and charming downtown. Silverton is only 15 miles from Salem and 48 miles from Portland, making it a popular day trip for tourists and bedroom community for those wanting to live in a small town but work in larger urban areas.