3522 Ibis StSalem, OR 97305

This exceptional investment opportunity presents a well-maintained, fully occupied duplex located in Salem, Oregon. The property, situated on a 0.13-acre lot in a desirable cul-de-sac location, boasts 2,010 square feet of net rentable space, divided into two units. Built in 1968, this Class C property features one-story buildings and is zoned RM. Each unit offers a wood-burning fireplace, and tenants are responsible for all utilities (water, sewer, and garbage). The property benefits from long-term tenants, with recent rent increases implemented on May 1st. The current monthly rental income totals $2,030 ($880 from one unit and $1,150 from the other). The property is offered at $399,000, representing a price per square foot of $198.51 and a price per unit of $199,500. A significant investment advantage is the 5.30% cap rate, reflecting strong potential returns. Recent improvements include a new roof installed on June 24, 2024, and a $4,000 credit is available for flooring upgrades. The property enjoys convenient access to Interstate 5 and numerous shopping amenities. The property's APN is 549876. This is a stabilized multi-family investment with a proven rental history and highly motivated tenants. This is a rare opportunity to acquire a turnkey investment property in a thriving Oregon market.