First Commercial Real Estate

JUST LISTED

OVERVIEW
The Ecols Street Student Housing Portfolio is a 27-unit multifamily collection spanning four properties in Monmouth, Oregon with close proximity to Western Oregon University. The portfolio offers a rare concentration of newer-vintage, large-format townhouse and apartment product built between 2003 and 2005, with one asset dating to 1941/1998. Combined, the properties generate over $505,000 in gross potential income with a total portfolio list price of $7,290,000. Each asset features strong in-place occupancy, immediate rent upside through market-rate stabilization (estimated to be $1,900-$2,300/mo), and appeal to both student-housing investors and long-term multifamily operators. The portfolio may be acquired collectively or as individual parcels. Ownership has self-managed for 20+ years and is ready for retirement.

SALES PRICE: $7,290,000
TOTAL NUMBER OF UNITS: 27
TOTAL BUILDING SIZE: 35,265 SF
TOTAL COMBINED LOT SIZE: 1.79 AC
ZONING: RM & RH

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FEATURED LISTING

OVERVIEW
Fantastic South Salem opportunity – Owner-user or redevelopment. This
property is located in the high-traffic, high-income demographic area of south
Salem. Located at the confluence of Liberty Road South and Commercial Street
SE, and near some of the largest concentrations of retailers in Salem, this
property has a lot of potential. Whether the building is repurposed for a single
user, demised for multi-tenancy or the site completely redeveloped under the
current Mixed Use I zone, this 19,095 SF building on two acres with signalized
direct access has a lot of potential.

SALES PRICE: $3,595,000
TOTAL BUILDING SIZE: 19,095 SF
TOTAL LOT SIZE: 2.0 AC
ZONING: MU-1

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FEATURED CLOSING

We are thrilled to announce that Jennifer and Conrad recently represented a local investor in the acquisition of this 49,830 SF historic, multi-tenant office building in downtown Salem. This sale marks a proud transfer of ownership from an out-of-state owner back to a local investor dedicated to developing and investing in the Salem community.

Purchased for $3.3M (an incredible value at just $80/SF!), The Oregon Building is a significant piece of our city’s history. It originally served as the Oregon Electric Depot, Salem’s electric trolley station connecting us to Portland and nearby communities and was once home to the Globe Theatre.

Looking for a new office space? Our team is now representing the new ownership to lease out the remaining spaces in this prime downtown location. We currently have 9 available offices ranging from 297 SF to 2,358 SF.

LEASE RATE: $20.40-$36/SF/YR
LEASE TYPE: FULL SERVICE
SPACE AVAILABLE: 297 SF - 2,358 SF

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MERKET UPDATE

COMMUNITY SPOTLIGHT

Don’t miss the
29th Annual John Mistkawi Memorial Golf Tournament
at Creekside Golf Club!  Join us in helping support the legacy of YMCA camping at Camp Silver Creek.

10:00am shotgun start​

The registration includes:
Greens fees and electric cart for 18 holes
Unlimited complimentary range balls
Lunch
Prizes
A charitable tax donation
Scramble Net/Gross format
GREAT FUN FOR ALL!

$175 per player if registering by June 30th.  
Price increases to $185 on July 1st.