1148 37th Pl NE

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Address: 1148 37th Pl NE, Salem, OR 97301, USA

Seattle & Northwest + Apartment Buildings

Created date: October 21, 2024

Date last updated: December 6, 2024

55+ Community w/ ADA hallways and bathrooms
Over $500,000 in updates recently:
New roof in 2020, elevator & common area upgrades
Newer siding and windows in majority of building
All 2 bed units with laundry

Property Description

Introducing the Camelot East Apartments, an exceptional investment opportunity in Salem, OR. The property offers a well-maintained 55+ community in a 38,064 SF low-rise/garden building comprised of (36) 2 bed/1 bath units. Built in 1997, the hallways and bathrooms are ADA compliant and all units offer washer/dryers. This property presents a prime prospect for multifamily investors seeking a solid addition to their portfolio. Boasting a convenient location in Salem, the property is poised for strong rental demand. Current ownership has invested over $500,000 in improvements over recent years, providing comfort to a new owner this has been a very well cared for investment. Recent improvements include a new roof in 2020, elevator and common area upgrades, newer siding and windows on the majority of the building, and paint in 2018. With a proven track record of consistent occupancy and attractive amenities, investors can capitalize on the thriving multifamily market in this dynamic area. Don't miss out on the potential this property holds for a successful multifamily investment venture in Salem.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$5,800,000
No. of Units:	36
Year Built:	1997
Lot Size:	1.26 Sq ft
Opportunity Zone:	No
Price per unit:	$161,111
Property Website	Click Here