MLS# 24172729 – 4434 Lancaster Dr, Salem, OR 97305 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of HomeSmart Realty Group.

Property Description

Description

4 Units

Status: Active

Year Built: 1964

Days on Website: 211

Amazing investment opportunity in Salem!Fully rented with good tenants on this 4-plex investment!Conveniently located near shops, college, and bus lines!New roof in 2019 and exterior touch ups! New coin operated laundry installed onsite for extra revenue. Below market rents! Great %5.67 cap rate on this investment and pro forma %7.19 w/ plenty of value to take it to the next level!

Property Details and Features

Property Access

Road Surface Type:

Paved

Building

Building Area Total:

3591

Built in 1964

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Community

Community Features:

Laundry

Expenses

Operating Expense:

$6,067

Exterior Features

Exterior Description:

T111Siding

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

5.87

Gross Income:

$4,052

Gross Rent Multiplier:

178.92

Net Operating Income:

$42,557

Listing

Contract Status Change Date:

2024-04-24

Days On Market:

210

Last Transaction Date:

2024-09-09 05:47:15

List Price:

$725,000

Listing Contract Date:

2024-04-24

Listing Id:

24172729

Mls Status:

Active

Modification Timestamp:

2024-09-09 05:47:15

On Market Date:

2024-04-24

Previous List Price:

$749,900

Rent Includes:

MaintenanceGrounds,TrashCollection

Standard Status:

Active

Location

MLS Area Major:

_176

County Or Parish:

Marion

Lot

Size Acres:

0.31

Size Range:

SqFt10000to14999

Size Square Feet:

13,503

Size:

10,000 to 14,999 SqFt

Miscellaneous

Investor Information:

Leases

Parking

Features:

Paved

6 total parking spots

Possession

Possession:

CloseOfEscrow

Property

Number Of Units Total:

Zoning:

Roof

Roof:

Shake

Schools

High School:

McKay

Middle Or Junior School:

Stephens

Elementary School:

Hayesville

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$4,475

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,150

Area:

897

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Two

Actual Rent:

$919

Area:

897

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Three

Actual Rent:

$919

Area:

897

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Unit Four

Actual Rent:

$1,064

Area:

897

Features:

Range,Refrigerator

Units Total:

1 total bathroom

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Gas

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$725,000 -

4434 Lancaster Dr Salem , OR 97305

MLS Area Major: _176

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on November 21, 2024 12:08AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.