NOTE: The numbers provided on this site are for informational purposes only to help investors consider deals, and are approximate. Actual costs and profits will vary by investor. Prospective buyers are solely responsible for running their own numbers and drawing their own conclusions about investment properties.
Two Multifamily Homes in Salem, Oregon
These two group home properties have been operated as rent-by-the-room rental properties for many years, with a strong track-record and opportunity for immediate forced appreciation!
Market rents are verified at $800 to $900 / room / month, and the historical vacancy has been below 5%!
Conveniently located near Downtown and NE Salem, the properties are in great shape with minimal updates needed to be prime working order and command top rental rates. Both houses have had recent updates, feature keypad property and room locks, and are in overall very good shape.
NOI with a 40% expense ratio, utilities shared among tenants, and property management are projected to be north of $82,000 annually!