Location: Salem, Oregon

Viking Apartments is an 87-unit, two-story multifamily asset located in Northeast Salem. Originally built in 1972, the property has undergone phased renovations, offering a mix of one- and two-bedroom units with updated finishes. Positioned near key employment hubs, educational institutions, and transit corridors, Viking benefits from strong renter demand and reliable occupancy.

With additional upside through continued interior upgrades and management optimization, Viking Apartments offers a compelling opportunity to increase income while maintaining affordability in a high-demand rental corridor.

Property Details

• Type of Property: Two-Story Multifamily

• Status: Stabilized

• Year Built: 1972

• Total Units: 87

• Unit Mix: 1 Bed / 1 Bath and 2 Bed / 1 Bath

• Avg Unit Size: ~650–900 sq ft

• Tenant Profile: Students, workforce housing, long-term renters

Investment Overview

• Investment Date: TBD

• Exit Date: Still Held

• Initial Investment Amount: TBD

• Projected Profit: TBD

• Projected ROI: TBD

• Hold Strategy: Long-term hold with rent growth through ongoing renovations

Capital Structure

• Equity: TBD

• Debt: TBD

• Leverage Strategy: Standard bank financing with renovation upside

Development Strategy

• Interior Upgrades: Select units renovated with modern finishes and flooring

• Operational Improvements: Leasing incentives and re-tenanting strategies in place

• Location Strength: Walkable to transit, schools, and local employment centers

• Rent Optimization: Room to push rents as value-add units turn over

Investment Thesis

Viking Apartments is a well-positioned multifamily asset with scale, location strength, and tangible upside. The combination of strong in-place cash flow and further renovation potential makes this property an ideal fit for investors targeting durable returns through light value-add execution.