The Three Basic Classes of Real Estate

via WordPress https://ift.tt/3fknpHy

Salem’s River Road Apartments

As the owner and president of Commercial Property Resources in Salem, Oregon, Paul Kerley has been in the business of acquiring and developing commercial and multi-family residential real estate properties for nearly four decades. In February of 2020, Paul Kerley of Salem, Oregon spearheaded the acquisition of River Road Apartments.

The River Road Apartments is located at 4133-4143 River Road North, placing the building close to several restaurants, retail stores, and other essential establishments. It also offers ample tenant parking through its on-site paved surface lot.

The principal River Road Apartments structure was built in 1967. A single-story building, it consists of six apartment units. Each of these units features two bedrooms and one bathroom. The average area of a River Road Apartment unit is 670 square feet.

Beyond the main 6-unit River Road Apartments complex, the property contains one stand-alone, leased commercial office building, This single-story structure stretches over 1,700 square feet.

Paul Kerley Guides Roseburg, Oregon Apartment Property Purchase

Paul Kerley is a Salem, Oregon entrepreneur who has led Commercial Property Resources, Inc., for more than three decades. Guiding Commercial Property Resources, Paul Kerley has pursued numerous acquisitions and currently owns and manages approximately 1,500 units spanning Salem and the state of Oregon.

One property recently acquired in Roseburg was of Vista Homes and Terrace Apartments, with the former located at 1100 NE Freemont Avenue and the latter at 600 NE Polk Street. With the properties presented by the broker Marcus & Millichap, they encompass 24 one bedroom units, 26 two bedroom units, and 6 three bedroom units.

The total lot size of the adjacent properties is 1.91 acres, with the site having been originally developed in 1947. Units feature all-electric kitchen appliances, and share common lawn areas. The property is convenient to historic downtown Roseburg and its various shopping options and public library.

The acquisition followed two by Mr. Kerley in early 2020, River Road Apartments and River Crest Apartments, in the city of Keizer.