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581 Highland Ave NE, Salem, OR, 97301

3beds
3baths
1,615sqft
$479,000
$297price/sqft
$3,060/moest. monthly cost
$122,400/yrincome needed

About This Home

Calling all investors—don’t miss this exceptional three-unit multifamily opportunity. This property is ideal for investors looking to expand their portfolio or for an owner-occupant who wants to live in one unit while renting out the other two.All units have been renovated, and the building is fully occupied. The seller currently resides in one unit, with the remaining two secured by leases. Located on a quiet, tree-lined street, the property offers a peaceful and desirable setting.Whether you’re adding to an existing portfolio or purchasing your first investment property, this one delivers. The numbers are strong, with an actual cap rate exceeding 6%.Please submit offers contingent upon a walkthrough. Kindly do not disturb the tenants or walk the property.

Getting Around

71
WalkingVery Walkable
40
TransitSome Transit
92
BikeBiker's Paradise

Schools

3/10
3/10
Parrish Middle SchoolGrades 6-81.0 mi
4/10
North Salem High SchoolGrades 9-121.1 mi

Construction

Condition

  • Property condition: Updated/Remodeled
  • Year built: 1937

Materials

  • Foundation: Slab
  • Roof: Composition
  • Construction materials: Wood Siding

Type & Style

  • Home type: MultiFamily
  • Property subType: Multi Family

Interior

Appliances

  • Appliances included: Dishwasher,Range,Refrigerator,Washer/Dryer,Electric Water Heater

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 3
  • Full bathrooms: 3

Heating & Cooling

  • Heating features: Wall Furnace
  • Cooling features: None

Interior Area

  • Total structure area: 1,615
  • Total interior livable area: 1,615 sqft

Property

Details

  • Parcel number: 577112
  • Zoning: RS

Features

  • Stories: 1

Lot

  • Lot size: 3,484 sqft
  • Features: Level,Trees,SqFt 3000 to 4999

Parking

  • Parking features: On Street
  • Has uncovered spaces: Yes