581 Highland Ave, Salem, OR 97301

Salem
Local realty services provided by:Knipe Realty ERA Powered
581 Highland Ave,Salem, OR 97301
$479,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: michael bivens
Office: bridgetown equity prop llc.503-475-3333
MLS#:487660105
Source:PORTLAND

Price summary

  • Price:$479,000

About this home

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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Home facts

  • Year built:1937
  • Listing ID #:487660105
  • Added:127 day(s) ago
  • Updated:May 20, 2026 at 11:23 AM

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Roof:Composition
  • Year built:1937
  • Lot area:0.08 Acres
  • Lot Features:Level, Trees
  • Foundation Description:Slab
  • Levels:1 Story

Schools

  • High school:North Salem
  • Middle school:Parrish
  • Elementary school:Hammond

Utilities

  • Water:Public Water
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$479,000
  • Tax amount:$4,050 (2025)

Parking

  • Parking description:On street
MLS LogoAll information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Knipe Realty ERA Powered are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright 2026 RMLS, Portland, Oregon. Last updated: May 20, 2026

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