Listing provided courtesy of Legacy Real Estate - MLS# 24199304MLS Provider
Contact Information: 503-390-1375

1055 Schurman DR SSalem, OR 97302

Multi-Family · 41,166 Sq. ft. | 1.87 Acres

$11,250,000 Active

Overview

Time on Site:
30 days
Visits:
1

Brand new apartment complex in desirable S Salem location off River Rd across from Minto Brown Park. 3 buildings featuring (18) 1bed/1bath & (24) 2bed/2bath for a total of 42 units with onsite office. Built with high-quality construction and finishes, they offer an exceptional standard of living for their residents. Units feature in unit laundry, covered patio or deck with storage closet. Low maintenance site design on 1.87 acres. Close proximity to downtown Salem, Willamette Univ, & Salem Hospital.

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Facts & Features

  • Type Multi-Family
  • Sq. ft. 41,166
  • Price/Sq.ft. $273
  • Lot 1.87 Acres

General

School Information
  • Elementary School: Candalaria
  • Middle Or Junior School: Leslie
  • High School: South Salem
Income/Expenses
  • Gross Income: 0
  • Gross Scheduled Income: 868920.0
  • Net Operating Income: 0
  • Operating Expense: 0
Building Information
  • Year Built: 2024
Location/Region
  • Country: US
  • County Or Parish: Marion
  • MLS Area Major: 172 - Marion Co: South Salem
Community/Development
  • Community Features: AllLandscaping,Commons
Rent/Lease Information
  • Rent Includes: Maintenance Grounds,Sewer,Trash Collection,Water
Tax Information
  • Tax Annual Amount: 75000.0
  • Tax Year: 2024
General Information
  • Buyers Agent Compensation: 1
  • Parcel Number: 587480
  • Property Condition: New Construction
  • Property Type: Multi Family
  • Zoning: RM2

Interior

Building Interior
  • Building Area Total: 41166.0
General Information
  • Cooling: MiniSplit
  • Foundation Details: Slab
  • Heating: Mini Split
  • Stories: 3

Exterior

Parking Information
  • Parking Features: Paved
  • Parking Total: 54.0
Lot Information
  • Lot Features: Gentle Sloping,Irrigated/Irrigation Equipment,Private,Public Road,Trees
  • Lot Size Acres: 1.87
  • Lot Size Square Feet: 81457.0
  • Road Surface Type: Paved
  • Water Source: Public Water
Building Exterior/Construction
  • Roof: Composition
General Information
  • Number Of Units Total: 42
  • Sewer: Public Sewer

Neighborhood

Community

97302 (Salem) Demographics
41
Median Age
1,652
Population Density (per sq. mile)
50%
College Educated
$67,270
Estimated Median Income
10,033
Estimated Total Home Owners
6,988
Estimated Total Renters
59% / 41%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

Elementary Schools
4
Public
Candalaria Elementary School
  • Grades: KG - 5
  • Enrollment: 353
4
Public
McKinley Elementary School
  • Grades: KG - 5
  • Enrollment: 341
3
Public
Morningside Elementary School
  • Grades: KG - 5
  • Enrollment: 341
3
Public
Salem Heights Elementary School
  • Grades: KG - 5
  • Enrollment: 315
3
Public
Schirle Elementary School
  • Grades: KG - 5
  • Enrollment: 422
4
Public
Wright Elementary School
  • Grades: KG - 5
  • Enrollment: 401
Middle Schools
3
Public
Judson Middle School
  • Grades: 6 - 8 /
  • Enrollment: 995
1
Public
Leslie Middle School
  • Grades: 6 - 8 /
  • Enrollment: 777
High Schools
4
Public
South Salem High School
  • Grades: 9 - 12 /
  • Enrollment: 2,057
4
Public
Sprague High School
  • Grades: 9 - 12 /
  • Enrollment: 1,696
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

Monthly Cost

$
$ %
%
$
$
* Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Market Data

Based on the last 30 days in this zip code

$557,166
Median Sales Price
$259
Median Price per Square Foot
101
Properties Sold
68
New on Market
88
Average Days on Market
181
Properties for Sale
Calculations provided by Reliance Network

History

Date Event Value Agent
3/13/2024Source: Regional MLS Added to Database
March 13, 2024
3/11/2024Source: Willamette Valley MLS Price Reduction
$11,250,000 -4.3%
11/30/2023Source: Willamette Valley MLS - Sold Data Added to Database
November 30, 2023