365 16th Street Southeast

Salem, OR 97301

$645,000
Price
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Beds
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Description

This charming 6-unit apartment building in Salem, Oregon, presents an excellent investment opportunity with modern amenities and a prime location. Currently at 100% occupancy, the property has recently been upgraded with new sewer lines, a roof replacement, exterior siding, deck reconstruction, and fresh paint. The units feature laminate flooring, central heating, and a variety of floor plans, including 5 one-bedroom/one-bath units and 1 two-bedroom/one-bath unit. Additional features include basement...This charming 6-unit apartment building in Salem, Oregon, presents an excellent investment opportunity with modern amenities and a prime location. Currently at 100% occupancy, the property has recently been upgraded with new sewer lines, a roof replacement, exterior siding, deck reconstruction, and fresh paint. The units feature laminate flooring, central heating, and a variety of floor plans, including 5 one-bedroom/one-bath units and 1 two-bedroom/one-bath unit. Additional features include basement storage and ample parking in a spacious, unpaved area at the rear. Conveniently situated near Aldrich Park, Willamette University, and the Capitol Building, this property offers easy access to a lovely neighborhood.
  1. Listed by Alex Paiz • eXp Realty, LLC • 503-413-0974

Property Details for 365 16th Street Southeast

Subdivision
Southeast Salem
Parking Features
Driveway, Open
Zoning
RM2
LISTING UPDATED: 11/18/2024 01:04 AM

Property Details for 365 16th Street Southeast

StatusActive
MLS #24198739
Days on Market73
Taxes$4,185 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1901
Lot Size0.19 AC / 8,276 SF
CountyMarion County

Building Information for 365 16th Street Southeast

Stories-Residences6Year Built1901Building Size-Lot Size0.19 AC / 8,276 SF

Property Information for 365 16th Street Southeast

Summary
Location and General Information
  • Country: US
  • Directions: Mill Street SE / 16th Street SE
  • Road Surface: Concrete
School Information
  • Elementary School: Bush
  • High School: South Salem
  • Middle Or Junior School: Leslie
Taxes and HOA
  • Tax Year: 2023
  • Tax Annual Amount: $4,185.46
  • Parcel Number: 568372
  • Tax Legal Description: CAPITAL PARK ADD SALEM LOT 5 BLK 7
Property
Lot Information
  • Acres: 0.19
  • Lot Description: Level
  • Lot Size Square Feet: 8276.0
  • Lot Size Range: Sq Ft7000to9999
  • Lot Size: 7,000 to 9,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Year Built: 1901
Utilities
  • Fuel Description: Gas
  • Heating Description: Forced Air
  • Sewer Description: Public Sewer
  • Rent Includes: Electricity, Gas, Heat, Sewer, Trash Collection, Water
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
  • Roof Type: Composition
Interior Features
  • Basement: Full Basement, Partially Finished
  • Foundation Details: Concrete Perimeter
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
  • Gross Income Actual: $73,836.00
  • Gross Income Projected: $78,816.00
  • Gross Rent Multiplier: $8.74
  • Investor Information: According To Owner, Profit Loss Statement, Rent Records
  • Net Income Actual: $36,354.00
  • Net Income Projected: 51253
  • Operating Expenses Projected: $30,491.00
  • Operating Expense: $37,111.00
  • Storage: Basement, Individual Storage Units
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4, Unit Type Type5, Unit Type Type6
  • Common Amenities: Laundry
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Baths Decimal: 1.00
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Rent: $1,368
  • Unit Type 1 SqFt: 700.0
  • Unit Type 1 Units Total: 1
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Baths Decimal: 1.00
  • Unit Type 2 Beds Total: 1
  • Unit Type 2 Rent: $1,050
  • Unit Type 2 SqFt: 600.0
  • Unit Type 2 Units Total: 1
Unit 3 Information
  • Unit Type 3 Baths Total: 1
  • Unit Type 3 Baths Decimal: 1.00
  • Unit Type 3 Beds Total: 1
  • Unit Type 3 Rent: $885
  • Unit Type 3 SqFt: 595.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 1
  • Unit Type 4 Baths Decimal: 1.00
  • Unit Type 4 Beds Total: 1
  • Unit Type 4 Rent: $975
  • Unit Type 4 SqFt: 550
  • Unit Type 4 UnitsTotal: 1
Unit 5 Information
  • Unit Type 5 Baths Total: 1
  • Unit Type 5 Baths Decimal: 1.00
  • Unit Type 5 Beds Total: 1
  • Unit Type 5 Rent: $875
  • Unit Type 5 SqFt: 500.0
  • Unit Type 5 Units Total: 1
Unit 6 Information
  • Unit Type 6 Baths Total: 1
  • Unit Type 6 Baths Decimal: 1.00
  • Unit Type 6 Beds Total: 1
  • Unit Type 6 Rent: $1,000
  • Unit Type 6 SqFt: 595.0
  • Unit Type 6 Units Total: 1

Property History for 365 16th Street Southeast

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 365 16th Street Southeast

Taxable ValueLand-Additions-Total-
Tax Record2023$4,185 ($349 / month)
Home Facts
Beds3Total Finished SqFt3,924 SqFtAbove Grade Finished SqFt2,728 SqFtFinished Basement SqFt1,196 SqFtStories1Lot Size8,276 SqFtStyleSingle Family ResidenceYear Built1901ZoningRM2CountyMARIONAPN073W26CA03700

Schools near 365 16th Street Southeast

This home is within Salem-Keizer School District 24j.
Rating
School
Type
Grades
Distance
Bush Elementary School
Public - K to 5
Leslie Middle School
Public - 6 to 8
South Salem High School
Public - 9 to 12
Howard Street Charter School
Charter - 6 to 8
Rating
School
Distance
Bush Elementary School
PublicK to 5

Leslie Middle School
Public6 to 8

South Salem High School
Public9 to 12

Howard Street Charter School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 365 16th Street Southeast, Salem, OR 97301

365 16th Street Southeast is a multi-family home for sale in Salem, OR 97301. This property was listed for sale on September 10, 2024 by eXp Realty, LLC, it's currently listed at $645,000. It has been on the market for a total of 73 days and was last sold on May 6, 2021. This listing's school district is Salem-Keizer School District 24j. Nearby schools include Bush Elementary School, Leslie Middle School and South Salem High School. 365 16th Street Southeast is a 0-bed, 0-bath, multi-family home built in 1901.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of eXp Realty, LLC

All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Compass are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright © 2024 RMLS, Portland, Oregon. Last updated: 11/18/2024 01:04 AM