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581 HIGHLAND AVE Salem, OR $ 535,000
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581 HIGHLAND AVE
$ 535,000
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581 HIGHLAND AVE

Salem, OR, 97301
$ 535,000
Bedrooms3 Baths3.0

Monthly Estimate*

$ 3,294

581 HIGHLAND AVE, Salem, OR 97301 - Image 1

Multi-Family Home for sale in Salem, OR

for $535,000 with 3 bedrooms and 3 full baths. This home was built in 1937 on a lot size of 0.08.

Calling all investors—don’t miss this exceptional three-unit multifamily opportunity. This property is ideal for investors looking to expand their portfolio or for an owner-occupant who wants to live in one unit while renting out the other two.All units have been renovated, and the building is fully occupied. The seller currently resides in one unit, with the remaining two secured by leases. Located on a quiet, tree-lined street, the property offers a peaceful and desirable setting.Whether you’re adding to an existing portfolio or purchasing your first investment property, this one delivers. The numbers are strong, with an actual cap rate exceeding 6%.Please submit offers contingent upon a walkthrough. Kindly do not disturb the tenants or walk the property.

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Multi-Family Active

Price

$ 535,000

Bedrooms

3

Full Bath

3

Property Type

Multi-Family

Taxes

$ 4,049

Style

Lot Size

0.08

Year Built

1937

Town/City

Salem

County/Region

Marion

MLS | Web ID

487660105
Features
General
Sewer PublicSewer
Heating WallFurnace
Cooling None
Roof Composition
Zoning RS
Security Features None
Year Built 1937
Stories Count 1
Tax Year 2025
Parcel Number 577112
Gross Income 43200.0
County Marion
Net Operating Income 32400.0
Operating Expense 10800.0
Property Type MultiFamily
HOA N
Rent Includes MaintenanceGrounds Sewer TrashCollection Water
Status Active
Directions Broadway to Highland
High School North Salem
City Salem
Disclosures Disclosure
Number Of Units Total 3
MLS Area _176
Lot Size Square Feet 3484.0
Listing Terms Cash Conventional FHA
Elementary School Hammond
Tax Annual Amount 4049.94
Middle/Junior High School Parrish
Property Condition UpdatedRemodeled
Standard Status Active
Accessory Dwelling Unit Y/N N
Legal Description HIGHLAND AVE ADD SALEM FR LOT 7 BLK 10
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Exterior
Parking Features OnStreet
Lot Features Level Trees
Water Source PublicWater
Exterior Description WoodSiding
Foundation Details Slab
Lot Size Acres 0.08
Road Surface Type Concrete Paved
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Interior
Hot Water Electricity
Unit 1 Baths Total 1
Unit 1 Beds Total 1
Unit 2 Baths Total 1
Unit 2 Beds Total 1
Unit 3 Baths Total 1
Unit 3 Beds Total 1
Unit Type UnitTypeType1 UnitTypeType2 UnitTypeType3
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Internal Only
Street Number 1 581
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* Excluded Features
List By
Bridgetown Equity Prop Llc

Broker

mbivens@bridgetownequityproperties.com

Email

Affordability Calculator

$3,632
Per Month
91%
9%
0%
Monthly Principal & Interest
$3,294
Monthly Property Taxes
$337
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
5244547 Elementary School
1951177 Middle School
North Salem High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/13/2026$535,000 Listed Price

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581 HIGHLAND AVE, Salem, OR, 97301 is a Multi-Family Home for sale at $535,000 with a lot size of 0.08. 581 HIGHLAND AVE has 3 bedrooms, 3.0 baths, and was built in 1937. The property's zip code is 97301 which is in Salem, OR

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