Why Salem is Considered Real Estate

A Salem, Oregon real estate professional drawing on a career that has spanned more than three decades, Paul Kerley serves as president and owner of Commercial Property Resources, where he oversees over 1800 residential units. Paul Kerley has had a longstanding career in the Salem, Oregon, real estate market.

The capital city of Oregon, Salem, has a long record of high housing demand. In fact, previous records (including the year 2019) show that the rate at which houses were demanded in the state exceeded supply. With this attribute, Salem is considered a reliable real estate market for investors, and websites like Listwithclever.com reiterate this concept.

With the high housing demand in the state, one may expect houses to be more expensive in Salem than in other cities. However, this is not the case since the past median home value in Salem was far less compared to Eugene and Portland (other cities in Oregon). This is good news for both home renters and buyers since renters can expect more affordable lease contracts while buyers can also expect affordable acquisition costs. With the increasing demand for houses in the state, homebuyers can also expect to see their assets appreciate over time.

Lee St. SE Apartments Latest Paul Kerley Acquisition

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.

KKCoastal Acquires Rental Units in Newport, Oregon

Based in Salem, Oregon, Paul Kerley has worked for more than three decades as a real estate owner and management specialist. Outside of his responsibilities at the Salem-based Commercial Property Resources, Inc., Paul Kerley owns a limited liability company called KKCoastal. Under his leadership, this firm recently purchased rental units in Newport, Oregon. 

Through the representation of Windermere Properties' Anita Quilici, KKCoastal was able to acquire the Alder Street Apartments at 1007 SW Alder Street in Newport. Financed through Precision Capital, the purchase totaled $550,000. For this price, KKCoastal obtained six rental units and an accompanying cottage spread across half an acre of land. 

Of Alder Street Apartments’ six units, five include one bedroom and one bathroom while the last unit comprises two bedrooms and one bathroom. The cottage boasts a cozy one-bed, one-bath interior with an outdoor deck. The property has amenities such as electric heating and laundry equipment as well as seven resident parking spaces.

Alder Street Apartments is situated within minutes of downtown Newport and the Pacific Coast. Other local attractions include the Hatfield Marine Science Center and the Oregon Coast Aquarium.

Paul Kerley Acquires Grand Ronde Rental Properties

Oregon-based Paul Kerley has over 30 years of experience in the real estate business and has owned and managed Commercial Property Resources, Inc. since 1983. The company owns and manages about 1,000 residential rental properties in the Salem area and frequently expands its holdings. Recently, Mr. Kerley’s solely owned limited liability company Grand Ronde Village, LLC, purchased more than 40 residential rentals in Grand Ronde, Oregon.

Grand Ronde is a census-designated place in western Oregon. It had a population of 1,661 in the 2010 census, and rentals accounted for 42.9 percent of its occupied housing. Grand Ronde also hosts the state’s largest casino and top tourist attraction, Spirit Mountain Casino. The Bunn Family Limited Partnership formerly owned the units purchased by Grand Ronde Village. Most of the units possess fenced yards as well as garages or storage sheds and are equipped with washer/dryer hookups. The properties are located at 8625 Grand Ronde Road.                            

Hearthstone Apartments in Linn County

A graduate of Willamette Law School in Salem, Oregon, Paul Kerley is a real estate professional with more than 30 years of experience. Through his company, Commercial Property Resources of Salem, Oregon, Paul Kerley owns approximately 1,000 residential units. He is owner of several apartment complexes, including Heatherstone Apartments.

Located approximately 80 miles south of Portland, Heatherstone Apartments is in Linn County, a part of the Willamette Valley. A relatively sparsely populated area, Linn County is home to beautiful, undeveloped countryside. The area’s 22 parks provide easy access to hiking trails, fishing, and boating for local residents and visitors.

Constructed in 1968, Hearthstone Apartments consists of 38 units in two-story buildings. The apartments come with a parking space, kitchens with dishwashers, and a community courtyard. The nearest airport, Mahlon Sweet Field Airport, is approximately 50 miles away. However, Linn County is near Interstate 5, which provides a direct route to Portland and other destinations.                            

Commercial Property Resources Rejuvenates Albany Apartment Community

As owner and president of Commercial Property Resources, a real estate management firm based in Salem, Oregon, Paul Kerley leads the administration of approximately 1,000 residential units throughout the state. Paul Kerley founded the company in 1983, and has since owned and managed as much as $70 million in residential real estate in Salem, Cottage Grove, Hillsboro, Eugene, and various other Oregon communities.

In 2007, Mr. Kerley and his firm helped to rejuvenate a neighborhood in Albany. He purchased the property, an aging housing complex originally known as Valley Pointe Apartments, in May 2007, immediately changing its name to Albany Meadows. This initiated an extensive renovation project that completely transformed the once-rundown community. Originally built in the 1970s, the complex’s one-story buildings received approximately $1.5 million in renovations, including several improvements aimed at increasing energy efficiency. These upgrades included new insulation, sliding patio doors, and double-pane windows, as well as new roof vents and bathroom ventilation fans. Commercial Property Resources also installed 100 new stoves and refrigerators, as well as updated washing machines and dryers.

Mr. Kerley’s improvements were also directed toward increasing resident safety and quality of life. In addition to adding solar heating to the community pool and building additional community laundry facilities, he hired a full-time security guard and implemented a video security system. The renovation project also included the installation of automatic lights on patios and throughout the parking lot. These improvements led to a noticeable increase in the security of the complex, with Albany police reporting a sharp decline in resident service calls following the renovation.