Pringle Creek Apartments

1123 Cross Street SE, Salem, Oregon 97302

$775,000

Status:
Available
County:
Marion
Units:
6
Year Built:
1975
Unit Price:
$129,167
Building Size:
3,900 sq. ft.
Price per SF:
$199
CAP Rate:
7.36%
Unit Mix:

Six (6) 1-bed 1-bath units

Floors:
1
Open Parking:
Yes
Laundry Room:
Yes
Siding:
Wood
Roof Type:
Composite
Heat Type:
Electric
Property Photo

Pringle Creek Apartments is a half-mile walk from the Salem Hospital and Willamette University. These six units are currently operating as short-term fully furnished rentals to doctors and nurses at Salem Hospital and professors and grad students at the university. Current leases carry a minimum three-month term with a historical average of five months. This unique asset boasts a high cap rate and excellent ROI.

6
Units
1975
Year Built
3,900
SQ. FT.

Property Location