Brooktree Apartments 4082 Commercial St SE Immeuble residentiel 44 lots 5 349 794 € (121 586 €/Lot) Taux de capitalisation 6,61 % Salem, OR 97302

» Value-add interior upside with clear renovation runway. Only 5 of 44 units
have received comprehensive renovations, with an additional 11 partially
renovated creating a defined path to modernize the remaining units and
capture rent growth over time. The staged nature of upgrades supports a
business plan that can be executed while maintaining occupancy and cash
flow.
» Meaningful recent capital investment reduces near-term deferred
maintenance. Ownership has completed substantial exterior and infrastructure
improvements, including stair/landing replacements, deck replacements,
electrical panel replacements, extensive tree work, parking lot seal coating,
asphalt/cement repairs, and exterior painting. This provides a strong foundation
for a renovation program by prioritizing key life-safety and curb-appeal items
upfront.
» Market fundamentals supported by established demographics and qualityof-
life amenities. Salem’s median household income is approximately $75,487
(2020–2024, inflation-adjusted), and South Salem submarket data indicates
a higher median household income profile (reported around $86,534 in
2023), supporting rent-growth potential for well-maintained, updated product.
Residents also benefit from Salem’s major parks and recreation destinations,
including Riverfront Park and Minto-Brown Island Park.
» Operational upside through professionalization and income optimization.
The property is professionally managed with hands-on ownership oversight,
and current rents appear positioned below market creating an opportunity
to enhance revenues through programmatic unit turns, consistent renewal
strategy, and expense controls. A well-executed management plan can
improve NOI without changing the resident experience simply by tightening
operations and implementing best practices.
» South Salem location on the Commercial St SE corridor.
The property sits along one of Salem’s primary north–south retail and
commuter arterials, offering strong day-to-day convenience for tenants.
Immediate proximity to major neighborhood retail (including WinCo at 4575
Commercial St SE and Safeway at 5660 Commercial St SE) supports durable
rental demand.
» Stable Salem employment base anchored by government and healthcare.
As Oregon’s capital, the State of Oregon is Salem’s largest employer, and
Salem Health is the largest private employer—supporting a consistent renter
pool across cycles. Salem Health reports more than 6,400 employees,
reinforcing the area’s healthcare-driven job stability.