NEW INVESTOR SECURES THEIR FIRST APARTMENT

OXFORD APARTMENTS

CLIENT GOAL

The client was a first-time multifamily investor looking to break into the market with a stabilized, well-located asset offering long-term upside.

CHALLENGE

In a competitive environment with rising interest rates and compressed cap rates, entry-level buyers often get priced out or discouraged. With limited inventory in Salem and surrounding submarkets, the buyer needed guidance and speed to identify a viable opportunity and navigate a complex transaction.

ACTION

Our team sourced Oxford Apartments, a 10-unit, fully renovated asset in Salem with a blend of studio, one-, two-, and three-bedroom units—many with river views and private patios. We helped the buyer underwrite the deal conservatively, modeled future upside, and negotiated effectively with the seller’s agent to keep the deal moving forward despite inspection and timing concerns. We also packaged financial reports and financing strategies to build lender and seller confidence, setting the buyer up for a successful close.

RESULT

The client closed on their first multi-unit investment, securing a turnkey asset at a 5.25% cap rate. The property’s strong location and unit mix provide long-term rent growth potential, while its recent renovations offer low near-term maintenance costs. The deal marked the start of a long-term investment strategy—anchored by sound underwriting and a winning team.

Oxford Apartments - Salem, OR

Selling Price: $1,500,000

Year Built:1962

Units: 10

Square Footage: 10,774