As detailed in the pre-purchase appraisal, Fir Villa Court encompasses 16 units and is a garden apartment property that offers 13,000 square feet of rentable space on 1.5 acres. With the previous property improvements taking place in the 1960s, the property was fully remodeled in 2017, bringing the condition up to “brand new.”
Situated adjacent to Fir Villa Court, Marion Apartments encompasses a 7,502-square-foot building that was constructed nearly a century ago and also underwent a comprehensive remodel effort in 2017. Together, these properties were purchased for $3.2 million in an opportunistic transaction that added significant value to the portfolio of the Salem, Oregon-based real estate investment firm.