The property consists of 5 units, with two 1 bedroom/1 bath apartments and three 2 bedrooms/1 bath apartments. The building has a new roof and windows, and an on site laundry. Tenants cover their electricity, while the landlord pays for water, sewer, and trash pickup. The apartments are just over a mile from the Oregon State Capitol building and near the Veterans Affairs office, Oregon Employment Department and other government offices, North Salem High School, and other schools, public parks, and commercial establishments.
The property was purchased through Mr. Kerley’s solely owned Snow & Kerley Properties, LLC, with financing provided by Precision Capital of Eugene, Oregon, and Chris Bettis acting as mortgage broker. Representing the buyer in the transaction was Gabe Johansen as principal broker of SMI Commercial Real Estate, LLC.