3660 State Street

Salem, OR 97301

$725,000
Price
Beds
3,988 Sq. Ft.
$182 / Sq. Ft.
3,988
Sq. Ft.
$182
per Sq. Ft.

Description

Rare Fourplex Investment Opportunity in Salem! This villa-style multifamily complex features two 2/1 units and two 3/1 units for a total of 10 beds across all 4 units. Complex is currently fully-rented at market rate with 7.71% CAP on actuals, and 8.61% pro-forma based on 10% increase in global rents. Separate 4-car garage offers covered parking/storage. Tucked in between Lancaster and I5 for easy commuting.Rare Fourplex Investment Opportunity in Salem! This villa-style multifamily complex features two 2/1 units and two 3/1 units for a total of 10 beds across all 4 units. Complex is currently fully-rented at market rate with 7.71% CAP on actuals, and 8.61% pro-forma based on 10% increase in global rents. Separate 4-car garage offers covered parking/storage. Tucked in between Lancaster and I5 for easy commuting.
  1. Listed by Alexander Mccarthy • John L. Scott Salem

Property Details for 3660 State Street

Parking Features
Detached, Garage
Zoning
RM2
Garage Spaces
4.00
Parking Total
4.00

Location

Listing Courtesy of John L. Scott Salem
Add your commute
LISTING UPDATED: 05/02/2024 12:58 PM

Property Details for 3660 State Street

StatusPending
MLS #24246411
Days on Market72
Taxes$6,415 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1977
Lot Size0.32 AC / 13,939 SF
CountyMarion County

Location

Listing Courtesy of John L. Scott Salem
Add your commute

Building Information for 3660 State Street

Stories1Residences4Year Built1977Building Size-Lot Size0.32 AC / 13,939 SF

Payment Calculator

$4,491 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,957

Property Taxes

$535

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3660 State Street

Summary
Location and General Information
  • Country: US
  • Directions: 37th Avenue
  • Road Surface: Concrete, Paved
School Information
  • Elementary School: Four Corners
  • High School: North Salem
  • Middle Or Junior School: Houck
Taxes and HOA
  • Tax Year: 2023
  • Tax Annual Amount: $6,415.27
  • Parcel Number: 524119
  • Tax Legal Description: ACRES 0.32
Virtual Tour
Property
Lot Information
  • Acres: 0.32
  • Lot Size Square Feet: 13939.0
  • Lot Size Range: Sq Ft10000to14999
  • Lot Size: 10,000 to 14,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Year Built: 1977
Utilities
  • Fuel Description: Electricity
  • Heating Description: Wall Furnace
  • Sewer Description: Public Sewer
  • Rent Includes: Sewer, Trash Collection, Water
Interior and Exterior Features
Exterior Features
  • Exterior Description: T111Siding, Wood Siding
  • Roof Type: Composition
Interior Features
  • Basement: Crawl Space
  • Foundation Details: Stem Wall
  • Stories: 1
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
  • Gross Income Actual: $66,720.00
  • Gross Income Projected: $73,392.00
  • Gross Rent Multiplier: $10.87
  • Investor Information: According To Owner, Leases
  • Net Income Actual: $55,883.00
  • Net Income Projected: 62392
  • Operating Expenses Projected: $11,000.00
  • Operating Expense: $10,837.00
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4
  • Common Amenities: Front Yard Landscaping
  • SqFt Approximate Building Total: 3988
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Rent: $1,300
  • Unit Type 1 SqFt: 800.0
  • Unit Type 1 Units Total: 1
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Beds Total: 2
  • Unit Type 2 Rent: $1,210
  • Unit Type 2 SqFt: 800.0
  • Unit Type 2 Units Total: 1
Unit 3 Information
  • Unit Type 3 Baths Total: 1
  • Unit Type 3 Beds Total: 3
  • Unit Type 3 Rent: $1,450
  • Unit Type 3 SqFt: 1200.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 1
  • Unit Type 4 Beds Total: 3
  • Unit Type 4 Rent: $1,600
  • Unit Type 4 SqFt: 1200
  • Unit Type 4 UnitsTotal: 1

Public Records for 3660 State Street

Taxable ValueLand-Additions-Total-
Tax Record2023$6,415 ($535 / month)
Home Facts
Total Finished SqFt3,988 SqFtAbove Grade Finished SqFt3,988 SqFtStories1Lot Size13,939 SqFtStyleQuadraplexYear Built1977Year Renovated1989ZoningRM2CountyMARIONAPN072W30CC02900

Schools near 3660 State Street

This home is within Salem-Keizer School District 24j.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Four Corners Elementary School
PublicK to 5

Houck Middle School
Public6 to 8

South Salem High School
Public9 to 12

Roberts High School
Public7 to 12

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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Listing Courtesy of John L. Scott Salem

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