581 HIGHLAND AVE, Salem, OR 97301
- $430,000
- Sold Price
- $430,000
- List Price
- $479,000
- Closing Date
- Jul 17, 2026
- Days on Market
- 186
- MLS#
- 487660105
- Property Type
- Multifamily
- Lot Size
- 3, 000 to 4, 999 SqFt
- Region
- Marion Co: East Salem N
- Status
- SOLD
Property Description
Calling all investors—don’t miss this exceptional three-unit multifamily opportunity. This property is ideal for investors looking to expand their portfolio or for an owner-occupant who wants to live in one unit while renting out the other two.All units have been renovated, and the building is fully occupied. The seller currently resides in one unit, with the remaining two secured by leases. Located on a quiet, tree-lined street, the property offers a peaceful and desirable setting.Whether you’re adding to an existing portfolio or purchasing your first investment property, this one delivers. The numbers are strong, with an actual cap rate exceeding 6%.Please submit offers contingent upon a walkthrough. Kindly do not disturb the tenants or walk the property.
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Additional Information
- Tax Amount
- $4,049
- Year Built
- 1937
- High School
- North Salem
- Elementary School
- Hammond
- Middle School
- Parrish
- Acres
- 0.08
- Stories
- 1
- Terms
- Cash, Conventional, FHA
- Cooling Description
- None
- Fuel Description
- Electricity
- Heating Description
- Wall Furnace
- Hoa Rent Includes
- Maintenance Grounds, Sewer, Trash Collection, Water
- Hot Water Description
- Electricity
- Exterior Description
- Wood Siding
- Roof Type
- Composition
- Sewer Description
- Public Sewer
- Parking
- On Street
- Security Or Entry
- None
- Parking Description
- On Street
- Road Surface
- Concrete, Paved
- Number Of Units Total
- 3
- Unit Type One Baths Total
- 1
- Unit Type One Beds Total
- 1
- Unit Type One Rent
- 1150
- Unit Type One Sq Ft
- 549
- Unit Type One Units Total
- 1
- Unit Type Two Baths Total
- 1
- Unit Type Two Beds Total
- 1
- Unit Type Two Units Total
- 1
- Unit Type Three Baths Total
- 1
- Unit Type Three Beds Total
- 1
- Unit Type Three Rent
- 1200
- Unit Type Three Sq Ft
- 517
- Unit Type Three Units Total
- 1
Mortgage Calculator
Listing courtesy of Bridgetown Equity Prop LLC. Selling Office: Non Rmls Broker.
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.