A seasoned real estate entrepreneur, Paul Kerley is the owner and president of Salem, Oregon-based Commercial Property Resources, Inc., which owns and manages over 1,500 residential rental units in Oregon. Paul Kerley’s latest addition to his portfolio is the Lee St. SE Apartments located at 2547-2561 Lee St. SE in Salem.
The property consists of 7 units, with 4 of the units featuring 1 bedroom and 1 bath, and three units having 2 bedrooms and 1 bath. The site has fenced yards, carports, and a laundry. Tenants pay for the electricity while the landlord covers the water, sewer, and trash pickup payments. The building is close to elementary, middle, and high schools, Willamette University, the Salem railroad station, the United States Postal Service building, and various commercial establishments.
Mr. Kerley acquired the property through his wholly owned Snow & Kerley Properties, LLC. Financing was provided by Precision Capital of Eugene, Oregon, with Christ Bettis serving as mortgage broker. Representing the buyer in the transaction was SMI Commercial Real Estate, LLC, through its principal broker, Gabe Johansen.
