For almost four decades, Paul Kerley has been a presence in the Salem, Oregon real estate space. Through his company, Commercial Property Resources, also based in Salem, Oregon, Paul Kerley manages over a thousand residential units and a variety of commercial properties.
Recently, Mr. Kerley purchased River Crest Apartments through his single entity, Kerley River Road, LLC for a reported total of $1,050,000 in cash. The property is located in Sheridan, Oregon bordering the South Yamhill River. The buyer was represented by Gabe Johansen, principal broker for SMI Commercial Real Estate LLC. The sellers were represented by Tyce Nelson, principal broker at Nelson Commercial Real Estate, LLC.
River Crest Apartments is centrally located minutes away from the Spirit Mountain Casino and Lincoln City. It features a mix of single-bedroom and double bedroom units with a total of 11 apartments in the building. The apartments have extensive amenities, including central laundry facilities, storage, disposal, and washer and dryer installations.
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