Guides Acquisition of Houston Lake Ranch

An established Salem, Oregon, real estate entrepreneur, Paul Kerley guides Commercial Property Resources, Inc., where he manages an extensive, statewide investment portfolio. One significant Powell Butte, Oregon, acquisition that Paul Kerley led in 2020 involved a 500-acre, rural property called Houston Lake Ranch.

More than half of the Houston Lake Ranch acreage is fully irrigated and set up for agricultural use, drawing water from Little Houston Lake. In addition to its use for livestock watering, the lake serves as a wildlife haven that is stocked with fish and attracts migratory and nesting birds. This allows for recreational activities on the property, such as fishing and hunting.

Buildings on the property include an original 2,030-square-foot ranch home that has four bedrooms, as well as a pair of newer two- and three-bedroom residences. These dwellings offer residents and guests expansive views of Cascade Mountain and Smith Rock. The Salem-based real estate team coordinated the $2.3 million purchase of Houston Lake Ranch through Steak OnThe Hoof, LLC.

Steak OnThe Hoof, LLC, Acquires Ranch

Paul Kerley is a real estate executive who maintains a head office in Salem, Oregon, and oversees the acquisition and management of investment properties across the state. Through Steak OnThe Hoof, LLC, Paul Kerley and his Salem, Oregon, team successfully guided the $2.3 million purchase of the 500-acre Houston Lake Ranch.

This 2020 transaction involved a property that spans multiple addresses on Southwest Houston Lake Road in Powell Butte, Oregon, and is zoned for agricultural use. The largest and oldest residential structure on the property is a four-bedroom, 2,030-square-foot ranch house. There are also two newer houses of 1,279 square feet and 1,006 square feet, respectively. In addition, there are barns, storage sheds, and other outbuildings common within a working cattle ranch setting. The “exclusive farm use” category the property falls under comes with IRS tax exemption benefits.

The property also includes full mineral rights and an extensive irrigation system that makes 60 percent of the land arable. Water is provided through a pump system installed in Little Houston Lake, which has additional uses as a watering area for livestock, as well as a refuge for birds, fish, and other wildlife.

Houston Lake Ranch Acquired by Salem

Paul Kerley is a Salem, Oregon, real estate executive who leads Commercial Property Resources, Inc., and maintains a statewide portfolio of acquired and managed rental properties. One rural property Paul Kerley acquired in 2020 through Salem, Oregon-based Steak OnThe Hoof, LLC, is Houston Lake Ranch.

Spanning approximately 500 acres near Powell Butte, this property includes 309 acres that rely on flood, wheel line, and gated pipe technologies for irrigation. The source of the water, Little Houston Lake, is outfitted with a water flow-regulating pump. It is also a watering spot for livestock on the property and a haven for wildlife such as birds and fish. As such, it offers abundant recreational activities for anglers and bird hunters.

The centerpiece of the property is an original ranch house with a footprint of more than 2,000 square feet. There are two additional houses on the working ranch, as well as barns and outbuildings for equipment storage use. The property benefits from “exclusive farm use” zoning, which offers tax deferral advantages. The acquisition cost $2.3 million and also included rights to underground minerals.

Grand Ronde Village Among Paul Kerley’s

Paul Kerley is an active presence in the Salem, Oregon, real estate community who leads Commercial Property Resources, Inc., and maintains an investment-focused portfolio that includes nearly 1,800 units. Paul Kerley has pursued a number of high-profile acquisitions in Salem, Oregon, and other areas throughout over the years that have provided excellent growth opportunities.

One of these was the purchase of what is essentially the city of Grand Ronde, Oregon, by Grand Ronde Village, LLC. Including 42 single-family homes of between one and five bedrooms, the property contains all of the residential rentals in the municipality. A majority of these homes have garages, storage sheds, washer/dryer hookups, and fenced yards. The acquisition of the property was closed through SMI Commercial Real Estate, LLC.

Another noteworthy acquisition was the 200-unit Donnie Court Apartments at 2436-2474 Lee Street Northeast in Salem. Housing both one-bedroom and two-bedroom rental units, the property was acquired through Kerley Properties, LLC.

Paul Kerley Guides Houston Lake Ranch

A Salem, Oregon-based real estate entrepreneur, Paul Kerley oversees Commercial Property Resources, Inc., and a number of affiliated companies. With more than three decades of relevant experience, Paul Kerley pursues projects that include the renovation, acquisition, and management of residential and commercial properties in Salem, Oregon, and beyond.

A noteworthy 2020 acquisition involved 500 acres in rural Powell Butte, Oregon, of which 60 percent are irrigated and set up for agricultural use. The property also includes a four-bedroom ranch home of 2,030 square feet and a pair of smaller dwellings. One of these smaller buildings is 1,006 square feet and has two bedrooms, while the other is 1,279 square feet and has three bedrooms.

Little Houston Lake lies at the center of the property, which offers expansive views of Smith Rock and Cascade Mountain. In addition to providing a ready source of water for farming and livestock, it is rich in aquatic and bird life and provides bird hunting and fishing activities. The “exclusive farm use” zoned property was sold for $2.3 million and enjoys farm tax deferral status.

Acquisition of an Industrial Flex Space

Consistently seeking out investment opportunities, Paul Kerley is a real estate executive based in Salem, Oregon, and maintains a portfolio spanning approximately 1,500 residential units across the state. Among Paul Kerley’s noteworthy transactions has been a Salem, Oregon, industrial property situated at 576 and 572 Patterson Street Northwest.

The Kerley Commercial, LLC, team coordinated the $6 million purchase of four acres of land, which house a pair of buildings that together span 63,305 square feet. One of the buildings was constructed in the mid-1940s, while the other was erected in 2008. With a zoning classification as Industrial General (IG), the buildings were redeveloped in 2017 and transitioned into use as industrial flex space to house multiple tenants.

At the time of the transaction, brokered by Legacy Real Estate and represented by SMI Commercial Real Estate, LLC, the property already had a healthy mix of local businesses as tenants. These included Capitol City Sports and the Evening Land Winery, as well as a martial arts space and a cafe restaurant.

Steak On The Hoof, LLC, Acquires Ranch

Based in Salem, Oregon, Paul Kerley oversees a number of affiliated companies, including Commercial Property Resources, Inc., and Steak On The Hoof, LLC. Through the latter Salem firm, Paul Kerley successfully pursued the 2020 acquisition of a cattle ranch in Powell Butte, Oregon.

Situated on Southwest Houston Lake Road, the property covers nearly 500 acres, and 300 are suitable for agricultural use. At the center of the property, Little Houston Lake provides a pumped water source for irrigation systems, and it is also used by livestock herds. Additionally, it functions as a wildlife habitat that attracts birds and offers a home to fish. This makes it ideal for various recreational activities, from angling to hunting.

Residential structures on the farm include a four-bedroom, 2,030-square-foot ranch home. The other two homes on the land are 1,006 square feet with two bedrooms and 1,279 square feet, with three bedrooms. With a variety of equipment sheds, barns, and other outbuildings on the ranch, the property has “exclusive farm use” zoning, which keeps federal taxes to the minimum. The $2.3 million transaction used to purchase the property included underground mineral rights, as well as electrical power and well setups.

Multi-Tenant Property in Salem

Based in Salem, Oregon, Paul Kerley is a real estate entrepreneur who oversees an extensive portfolio of rental properties and seeks out value-driven investment opportunities. In September 2019, Paul Kerley guided the purchase of industrial property in Salem, Oregon, at 576 and 572 Patterson Street Northwest.

The transaction was for two buildings encompassing approximately four acres and are zoned as Industrial General (IG). With one building dating back to 1945 and the other built in 2008, the entire property was redeveloped in 2017 and transformed into an industrial, multi-tenant flex space.

When solely owned Kerley Commercial, LLC purchased the property, several tenants took up all available rental spaces. These included Xicha Brewing, Capitol City Sports, Northstar Martial Arts, and a cafe and a winery. With Legacy Real Estate serving as principal broker and SMI Commercial Real Estate, LLC, representing the buyer in the deal, the transaction was valued at $6 million.

Purchases Scenic 500-Acre Cattle Ranch

Salem, Oregon's Paul Kerley purchased Houston Lake Ranch, a scenic cattle ranch in Powell Butte, Oregon. Paul Kerley, a residential and commercial real estate investor located in Salem, Oregon, has almost 40 years of experience in real estate. Mr. Kerley is a former real estate attorney, property owner, property manager, and commercial real estate broker. At one time, he owned an interest in and managed more than $70M in property.

Houston Lake Ranch is a 498.6 acre property in Butte, Oregon, 29 miles northeast of Bend. This multipurpose acreage contains 309.6 acres of irrigated land with wheel lines and several agricultural buildings, including a hay barn and machine shed. The property offers three residences and the on-site Little Houston Lake, along with bountiful wildlife and numerous recreational opportunities.

Houston Lake Ranch was sold for $2.3 million, with Steve Payer of Coldwell Banker in Bend, Oregon, representing the buyer in this transaction.

Oregon Buyer Purchases HL Road Ranch

Paul Kerley from Salem, Oregon, purchased Little Houston Lake Ranch, a nearly 500-acre cattle ranch at 10410-14 SW Houston Lake Road in Powell Butte, Oregon. A Salem, Oregon-based investor, Paul Kerley has almost 40 years of industry experience in real estate law, property management, and investing. Principal Broker Steve Payer of Coldwell Banker in Bend, Oregon, represented Mr. Kerley in the $2.3 million purchase.

The 499-acre Little Houston Lake Ranch includes 309 acres irrigated by gated pipe, flood, and wheel lines. Several agricultural buildings stand on the property, including a machine shed, a barn with a shop area, a 4,000-square foot hay barn, and two multipurpose buildings. The on-site Little Houston Lake is available for livestock watering and irrigation.

Opportunities for wildlife appreciation and recreation are frequent at this scenic location. Little Houston Lake presents excellent opportunities for bird watching, fishing, and hunting. The property is located near Smith Rock State Park and the Cascade Mountain range.

Little Lake Houston Ranch

Real estate owner and manager Paul Kerley is a resident of Salem, Oregon, and the owner of Commercial Property Resources Inc. Focused on real assets in Salem and greater Oregon, Paul Kerley has bought a range of properties, from multifamily apartments to office buildings and ranches. One of his recent ranch purchases is Little Houston Lake Ranch, located along SW Houston Lake Road in Powell Butte, Oregon.

Little Houston Lake Ranch sits on 498.6 acres of land. Because it is adjacent to Little Houston Lake, the property has ample water for livestock watering and irrigation. On-site irrigation systems include wheel line, flood irrigation, and gated pipe.

For domestic water, the ranch has a private well that is shared with three homes on the property. The first home, the original ranch home, measures 2,030 square feet and has four bedrooms and 1.5 bathrooms. The second home is 1,279 square feet, with three bedrooms and 1 bathroom, while the third is 1,006 square feet, with two bedrooms and two baths.

Other improvements on the property include a 3,600-square-foot machine shed, a 4,000-square-foot hay barn, and a 720-square-foot agricultural building. Besides agriculture, the property is also good for bird hunting and fishing.

 

River Crest Apartments Convenience

Paul Kerley of Salem, Oregon earned his doctor of law degree at Willamette University College of Law before launching his real estate career. As the owner and president of Commercial Property Resources, Inc. in Salem, Oregon, Paul Kerley oversees property acquisitions, including the recent purchase of the River Crest Apartments, which includes eleven units.

Originally built in 1967, the River Crest Apartments stand two stories high and feature nine one-bedroom and one-bath apartments and two two-bedroom and one-bath apartments. The apartments also include stoves, ovens, and refrigerators. Tenants have the option of using a laundry facility located on the premises. Each apartment gets a single parking spot.

Residents living in the River Crest Apartments have walkable access to several stores and services nearby. Additionally, those needing access to public transportation have a few options in the area. Families choosing to live in the complex send their children to Cummings Elementary School, Claggett Creek Middle School, and McNary High School, all institutions situated within the Salem-Keizer School District 24.

Two Noteworthy Commercial Real Estate Transactions in Oregon

A Salem, Oregon entrepreneur, Paul Kerley oversees a statewide real estate portfolio of more than 1,800 units. One of the noteworthy commercial purchases that Paul Kerley has made was a Bend office building located at at 634 Northwest Arizona Ave.

Undertaken through Kerley Commercial, LLC, a solely owned company, the $975,000 cash transaction was for a building constructed in 1915 as a home and remodeled for office use. Situated on 0.1 acres of land, the 2,260 square foot structure has zoning for commercial mixed use. 

Another transaction worth noting in Salem, Oregon, involves the purchase of the MaPS Building at 1900 Hines St Southeast. This iconic office building was built in 1978 and sits on a little more than two acres of land. The main tenant MaPS Credit Union has inhabited the building since its initial development, with other tenants including Grace and Truth Ministries, Keller Williams Capital City, Mosaic Management, and Healing Den.