Multi-Family for Sale: 2505 WALLACE RD, Salem, OR 97304

194,800 sqft
$16,000,000
$16,000,000
2505 WALLACE RD, Salem, OR 97304
194,800 sqft
$16,000,000
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Price:
$16,000,000
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Type Multi-Family
Square Feet 194,800 sqft
Lot Size 2.64 acres
Year Built 2024
Taxes Paid $9,029
City Salem
Area 168 - Polk Co: West Salem N
County Polk
School District West Salem
MLS 24492370
Status Active
DOM 235 days
Oppurtunity to purchase and take over the development/completion of a 216-unit apartment complex project.Located in the expanding community of West Salem. Plans and permits for 3-story multiplex complete with fitness center, resident pool & clubhouse, walking trail/green space and on-site management office. Property will be delivered in current state with approx 65% horizontal completed. Development is located off Wallace Rd, adjacent to phase 1 (completed) and neighboring retail development which includes a small shopping center, food truck pod and pavilion. Developer is willing to complete project for negotiated developer fees after purchase. Inquire with co broker.

Room Features

Basement Description None

Lot & Building Features

Cooling Other
Heating Mini Split
Parking Description Assigned
Sewer Public Sewer
Water Public Water
Water Heater Electricity

Community and Schools

Elementary School Harritt
Junior High School Walker
Senior High School West Salem

Unit Features

Unit Type 1 Actual Rent 1450
Unit Type 1 Area 800
Unit Type 1 Baths Total 1
Unit Type 1 Beds Total 1
Unit Type 1 Features Dishwasher, Refrigerator, Range, Microwave
Unit Type 1 Units Total 42
Unit Type 2 Actual Rent 1850
Unit Type 2 Area 950
Unit Type 2 Baths Total 2
Unit Type 2 Beds Total 2
Unit Type 2 Features Dishwasher, Refrigerator, Range, Microwave
Unit Type 2 Units Total 174
Unit Type 3 Actual Rent 5208
Unit Type 3 Area 2500
Unit Type 3 Units Total 1

Price History of 2505 WALLACE RD, Salem, OR

Date Name Price Difference
05/15/2024 Listing Price $16,000,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Photo of Don Nunamaker, Realtors
Direct: 541-386-4400
Office
2495 Cascade Ave.
Hood River, OR 97031
541-386-4400
Listed by Real Broker, Christine Folz & Ali Morrison
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0.05643125%
6.75%
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2505 WALLACE RD (MLS #24492370) is a multi-family listing located in Salem, OR. This is a multi-family listing with a lot of 114,998 sqft (or 2.64 acres). This property was listed on 05/15/2024 and has been priced for sale at $16,000,000.

Nearby zip codes are 97301, 97302, 97303, 97305 and 97306. This property neighbors other cities such as Donald, Keizer, Rickreall and Springfield.

RMLS

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: Real Broker

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 Don Nunamaker, Realtors are marked with the RMLS. logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 RMLS., Portland, Oregon.