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.