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2505 WALLACE RD Salem, OR $ 16,000,000
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$ 16,000,000 Get more info
2505 WALLACE RD
$ 16,000,000
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New Construction
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2505 WALLACE RD

Salem, OR, 97304
$ 16,000,000
Bedrooms6 Baths7.0 Sq 194,800

Monthly Estimate*

$ 106,341

2505 WALLACE RD, Salem, OR 97304 - Image 1
2505 WALLACE RD, Salem, OR 97304 - Image 2
2505 WALLACE RD, Salem, OR 97304 - Image 3
2505 WALLACE RD, Salem, OR 97304 - Image 4
2505 WALLACE RD, Salem, OR 97304 - Image 5
2505 WALLACE RD, Salem, OR 97304 - Image 6
2505 WALLACE RD, Salem, OR 97304 - Image 7
2505 WALLACE RD, Salem, OR 97304 - Image 8

Multi-Family Home for sale in Salem, OR

for $16,000,000 with 6 bedrooms and 7 full baths. This 194,800 square foot home was built in 2024 on a lot size of 2.64.

Oppurtunity to purchase and take over the development/completion of a 201-unit apartment complex project.Located in the expanding community of West Salem. Plans and permits for 3-story multiplex complete with fitness center, resident pool & clubhouse, walking trail/green space and on-site management office. Property will be delivered in current state with approx 65% horizontal completed. Development is located off Wallace Rd, adjacent to phase 1 (completed) and neighboring retail development which includes a small shopping center, food truck pod and pavilion. Developer is willing to complete project for negotiated developer fees after purchase. Inquire with co broker.

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Multi-Family Active

Price

$ 16,000,000

Bedrooms

6

Full Bath

7

Property Type

Multi-Family

Taxes

$ 9,029

Style

Lot Size

2.64

Year Built

2024

Town/City

Salem

County/Region

Polk

MLS | Web ID

24492370
Features
General
Sewer PublicSewer
Heating MiniSplit
Cooling Other
Roof Composition
Zoning Multi
Year Built 2024
Stories 3
Tax Year 2024
Gross Income 4546756.0
Community Features RecreationFacilities
County Polk
Net Operating Income 3260666.0
Operating Expense 1058752.0
Property Type MultiFamily
Rent Includes MaintenanceGrounds TrashCollection
Status Active
Directions River Bend
High School West Salem
City Salem
NumberOfUnitsTotal 202
MLS Area _168
Lot Size Square Feet 114998.0
Street Name WALLACE
Listing Terms Cash Conventional
Elementary School Harritt
Tax Annual Amount 9029.0
Middle/Junior High School Walker
Property Condition NewConstruction
Days on Market 22
Standard Status Active
Legal Description Polk COunty tax ID: 241300 241313 241339 241342 241298
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Interior
Basement None
Hot Water Electricity
Unit 1 Baths Total 2
Unit 1 Beds Total 1
Unit 2 Baths Total 2
Unit 2 Beds Total 2
Unit 3 Baths Total 3
Unit 3 Beds Total 3
Unit 4 Baths Total 0
Unit 4 Beds Total 0
Street Suffix RD
Unit Type UnitTypeType1 UnitTypeType2 UnitTypeType3 UnitTypeType4
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Exterior
Parking Features Assigned
Water Source PublicWater
Exterior Description CementSiding
Foundation Details Slab
Building Area Total 194800.0
Lot Size Acres 2.64
Road Surface Type Paved
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Internal Only
Street Number 1 2505
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* Excluded Features
List By
Real Broker

Broker

christinefolzre@gmail.com

Email

Affordability Calculator

$107,093
Per Month
99%
1%
0%
Monthly Principal & Interest
$106,341
Monthly Property Taxes
$752
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1950398 Elementary School
1949770 Middle School
West Salem High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
5/16/2024$16,000,000 Listed Price

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2505 WALLACE RD, Salem, OR, 97304 is a Multi-Family Home for sale at $16,000,000 with 194,800 sqft and a lot size of 2.64. 2505 WALLACE RD has 6 bedrooms, 7.0 baths, and was built in 2024. The property's zip code is 97304 which is in Salem, OR

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