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.
