Camelot East Apartments | 1148 37th Pl NE
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Camelot East Apartments 1148 37th Pl NE
36 Unit Apartment Building $5,800,000 ($161,111/Unit) 5.75% Cap Rate Salem, OR 97301
Investment Highlights
- 55+ Property
- All ADA Compliant 2 bedroom units with laundry
- Many physical property improvements over past 5 years
Executive Summary
Located in a peaceful 55+ community, this well-maintained complex consists entirely of 2-bedroom, 1-bathroom apartment units at approximately 900 sf, offering modern amenities, including an electric range, refrigerator, dishwasher, in-unit washer and dryer, and
electric cadet heaters. Built in 1997, it combines charm with convenience, providing a tranquil living environment close to Salem’s amenities. Water, sewer, and garbage utilities are included, with other utilities covered by the tenants. Ideal for those seeking a comfortable, quiet lifestyle. Owners have recently improved the property by installing a new roof in 2020 and the removal of approximately 80% of the vinyl siding and replacement with Hardi-plank, along with replacement of windows in these areas, recent roof replacement and lobby upgrades.
electric cadet heaters. Built in 1997, it combines charm with convenience, providing a tranquil living environment close to Salem’s amenities. Water, sewer, and garbage utilities are included, with other utilities covered by the tenants. Ideal for those seeking a comfortable, quiet lifestyle. Owners have recently improved the property by installing a new roof in 2020 and the removal of approximately 80% of the vinyl siding and replacement with Hardi-plank, along with replacement of windows in these areas, recent roof replacement and lobby upgrades.
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Property Facts
Unit Amenities
- Balcony
- Refrigerator
- Oven
- Range
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 36 | - | 900 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 583465 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,892,830 |
PROPERTY TAXES
Parcel Number
583465
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,892,830
zoning
| Zoning Code | RM2 |
| RM2 |
-
Hugh Holtman -
SVN | Imbrie Realty
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Camelot East Apartments | 1148 37th Pl NE
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