Through his solely owned company, Snow & Kerley Properties, LLC, Mr. Kerley secured financing through mortgage broker Chris Bettis with Precision Capital in Eugene to acquire the property for $285,000. The small complex includes both one-bedroom/one-bath and studio units. Potential tenants will pay for electricity; the landlord will cover other utilities, such as water and trash. The complex is equipped with a new roof, new windows and an onsite laundry for added convenience.
A real estate executive with almost three decades of experience in the industry, Paul Kerley has acquired 1,500 residential units in Salem and neighboring communities in Oregon. Through his property management company Commercial Property Resources, Inc., Paul Kerley has directly or indirectly managed over 100 employees in the maintenance of his assets. Mr. Kerley’s combined expertise as an owner, manager, and commercial real estate broker led to his successful purchase of a Salem, Oregon apartment complex located at 1090-1098 Capitol St. NE.
Through his solely owned company, Snow & Kerley Properties, LLC, Mr. Kerley secured financing through mortgage broker Chris Bettis with Precision Capital in Eugene to acquire the property for $285,000. The small complex includes both one-bedroom/one-bath and studio units. Potential tenants will pay for electricity; the landlord will cover other utilities, such as water and trash. The complex is equipped with a new roof, new windows and an onsite laundry for added convenience.
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Salem, Oregon, resident Paul Kerley graduated from Montana State University and the Willamette University College of Law and has several decades of experience in real estate investment and the law. Paul Kerley is the president and owner of Commercial Property Resources, Inc, a real estate management firm in Salem, Oregon, which owns approximately 1,500 residential units throughout the state.
One of the business’s most recent acquisitions is a seven-unit apartment complex located at 2547-2561 Lee St. SE in Salem. Purchased through Snow & Kerley Properties, LLC, for $435,000, the property comprises several 1 bedroom/1 bathroom units and several 2 bedroom/1 bathroom units. All units include carports and fenced yards, and they share an onsite laundry room. The landlord is responsible for water, sewer, and garbage bills, while the tenant pays the other utilities, including electricity and gas. The transaction was financed through Precision Capital, with Chris Bettis acting as the mortgage broker and principal broker Gabe Johansen representing the buyer. With more than 30 years of experience in real estate in Salem, Oregon, Paul Kerley serves as president of Commercial Property Resources and is the sole owner of Snow & Kerley Properties, LLC. Paul Kerley has grown his portfolio to encompass 1,500 residential units, including numerous apartments recently acquired at 2547-2561 Lee Street SE in Salem, Oregon. Purchased by Snow & Kerley Properties in a transaction brokered by Gabe Johansen of SMI Commercial Real Estate, LLC, Lee Street SE Apartments feature seven units with two apartment layouts. Four of the units offer a 1-bedroom, 1-bath layout, and 3 of the units feature 2 bedrooms and 1 bath. In addition to the on-site laundry facility, Lee Street SE Apartments provides residents with fenced yards and car ports. Although tenants pay for electricity, the landlord covers water/sewer and refuse collection costs. The $435,000 purchase was financed by Precision Capital in the city of Eugene, with Chris Bettis serving as the mortgage broker. A graduate of the Willamette Law School, Paul Kerley of Salem, Oregon, focused his legal studies on business and real estate. He has applied his training in the real estate sector for over three decades and now owns more than 1,500 apartment units as the owner of Commercial Property Resources in Salem, Oregon, as well as Snow & Kerley Properties, LLC, and KKCoastal, LLC. In 2017, Paul Kerley purchased properties including the Ainslee Townhouses in Depoe Bay and the Alder St. Apartments in Newport. Located at 131 SE Ainslee Street, the Ainslee Townhouses feature 2 units with a 2-bedroom, 1.5-bath layout as well as 2 3-bedroom, 1.5 bath units. The Ainslee Townhouses were sold for $499,000 to KKCoastal, LLC, with Adam Strasdas as the mortgage broker and Precision Capital in Eugene providing the financing. KKCoastal, LLC, has also purchased the Alder St. Apartments, located at 1007 SW Alder St. in Newport. Featuring six units and a cottage, the Alder St. Apartments were purchased for $550,000 in a transaction financed by Precision Capital, with Adam Strasdas serving as the mortgage broker and Anita Quilici of the Salishan Beach office of Windermere Properties representing KKCoastal, LLC. Paul Kerley is a well-established Salem, Oregon, real estate entrepreneur who leverages more than 30 years of industry experience to lead Commercial Property Resources, Inc. Over the years, Paul Kerley has guided the acquisition, renovation, management, and sale of numerous value-focused holdings statewide. His noteworthy recent transactions in the Salem area include the purchase of Donnie Court Apartments at 2436-2464 Lee Street SE. The property comprises 20 total units, with half of the units featuring one bedroom and one bath, and the other half offering two bedrooms and two bath. The October, 2017, deal was financed through Banner Bank in Santa Monica. Another recent transaction in the same community involved the purchase of four single-family homes at 2900 Brooks Street NE and at 1340-1342 McDonald Street NE. With the buyer and seller both represented through the local Coldwell Banker branch office, purchase financing was arranged by PacWest Funding Inc. (dba Precision Capital). Drawing on over 30 years’ experience in residential real estate management, Paul Kerley owns and serves as president of Salem, Oregon's Commercial Property Resources (CPR). In addition to properties in Salem, Paul Kerley’s portfolio comprises close to 1,500 residential units in Oregon. CPR's portfolio of properties now includes a six-unit apartment complex located on Alder Street in Newport. Purchased on October 31, 2017, for $550,000 with financing through Precision Capital, this 4,637-square-foot property spans two commercial lots and has recently updated electrical, foundation, waterline, and plumbing with a private laundry area that includes coin-operated machines. In addition to the six units, the property includes a cottage. It's an ideal space for families with children, as the building is located within one mile of Newport High School, Newport Preparatory Academy School, and Newport Intermediate School, which, combined, service children from grades 4 to 12. It's also just over a mile away from the K-3 Sam Case Elementary School. Paul Kerley is a well established presence in the Salem, Oregon, community who has led Commercial Property Resources, Inc. and affiliated real estate companies for more than 30 years. Reflecting his construction activity, Paul Kerley has achieved distinction across the Western region as Lowes Building Supply’s largest regional customer. Recently completed transactions included the purchase through his Oregon limited liability company of a Salem apartment complex comprising 10 one bedroom, one bath units on Broadway NE. Comprising a single two-story building, the property sits conveniently at the perimeter of the town’s core downtown area. Another purchase in the same community was of the 25-unit Market St. Terrace Apartments. This Market Street NE property sits at the intersection of Lancaster Drive and is comprised of one bedroom, two bath apartments. It also includes a buildable parcel totaling one acre in size. Other towns in which significant residential acquisitions have recently been made include Grand Ronde and Albany. Since 1983, Paul Kerley has owned and served as president of real estate management firm Commercial Property Resources, Inc., in Salem, Oregon. Also the sole owner of KKCoastal, LLC, he has made real estate investments in Salem and beyond. Most recently, Paul Kerley acquired the Ainslee Townhouses in Depoe Bay, Oregon. Located at 131 SE Ainslee Avenue, the Ainslee Townhouses property constitutes a multifamily fourplex that spans more than 4,000 square feet. Built in 1995, these rental units feature both two- and three-bedroom options, all of which come with one-and-a-half bathrooms. Units also are equipped with all standard kitchen appliances and wall cooling. Two of the residences include in-unit washers and dryers as well. Situated along the Oregon Coast Highway, Ainslee Townhouses is a short drive from both Lincoln City and Newport. The property is also not far from the Siuslaw National Forest. KKCoastal, LLC, worked with Precision Capital to obtain financing for the purchase of the Ainslee Townhouses. In the end, the firm purchased the fourplex for just under $500,000. Active in the real estate industry since 1983, Salem, Oregon, resident Paul Kerley runs Commercial Property Resources, Inc., a real estate agency specializing in the purchase, restoration, and management of commercial residential properties. One such purchase recently made by Paul Kerley and company was the Heatherstone Apartments, located not far from Salem in Albany, Oregon. Home to both individuals and families, the Heatherstone Apartments at the time of purchase consisted of 38 units: 20 of them being one-bedroom and 18 others being two-bedroom apartments. According to the property website, the one-bedroom apartments average 589 square feet and the two-bedroom apartments average 718 square feet in size. Both feature excellent kitchen amenities. Each unit is allotted one parking space, and the grassy apartment courtyard is available for all to enjoy. In addition, tenants are allowed to keep cats and dogs in the apartments. The Greystone Servicing Corporation aided in the purchase of the property by providing financing of $1,160,000, which was brokered by Bradley Wilson of Marcus & Millichap. With over 35 years of experience in real estate law and management, Paul Kerley manages approximately 1,000 residential units and serves as the president of the Salem, Oregon, firm Commercial Property Recourses. In 2007, Paul Kerley took on the challenge of transforming a rundown housing complex in Albany, Oregon, into a modern multifamily residential facility.
After filing the paperwork, Kerley immediately hired a team of 25 professionals to begin renovations on the complex and handle correspondences with current and former tenants. Renovations and repairs to the complex involved addressing issues with the parking lot, individual units, building walls, and community laundry rooms. All buildings received new paint jobs and dry-rot removal services. Abysmal conditions inside the individual units required extensive repairs and renovations, including new carpets and vinyl flooring, replaced light fixtures, and updated bathroom and kitchen amenities. In addition, approximately $650,000 went toward energy efficient upgrades that included new roof vents, sliding patio doors, and insulation. Updates to the complex also included the installation of video surveillance equipment throughout the property and the hiring of several full-time security guards. To further increase security measures, the renovations team also installed new lights in the parking lots and added patio lights to all homes. According to the Albany Police Department, the cleanup efforts resulted in such positive changes for the neighborhood as a decrease in service calls from residents of the complex. Prior to taking ownership of the complex, Kerley met with police captain Jeff Heinrich for suggestions on improving safety and security measures in the neighborhood. Heinrich contributed stricter management policies and increased resident accountability for the neighborhood improvements. Formerly called Valley Point Apartments, the complex became known as Albany Meadows after its rehab. |
AuthorHe currently owns and oversees approximately 1,000 residential units that he acquired through a wide range of professional real estate partnerships. Archives
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