Based in Salem, Oregon, Paul Kerley guides Commercial Property Resources, Inc., where he delivers acquisition and management solutions across the state. Paul Kerley and the Steak OnThe Hoof, LLC, team in Salem, Oregon, engineered the $2.3 million purchase of Houston Lake Ranch in Powell Butte.
The expansive, 500-acre property is zoned for agricultural use and includes a cattle ranching operation. An irrigation system is used to pump and distribute water from Little Houston Lake to surrounding acreage, with approximately 60 percent of the total land irrigated and suitable for farming.
Three residential structures are situated on the property, including a primary ranch house that spans 2,030 square feet and has four bedrooms. The secondary residences are 1,006 square feet and 1,279 square feet, respectively. There are also outbuildings located on site, such as a barn and equipment shed.
As a working cattle ranch, the property benefits from a number of IRS tax exemptions. Other attractions include a lake that serves as a wildlife hub and encourages recreational uses such as hunting and fishing.
