1520 7th St NW
1520 7th St NW, Salem, OR 97304
This well-located West Salem 6-plex presents a compelling value-add investment opportunity with immediate income upside. The property consists of six 1 bed, 1 bath units across ≈4,000 SF on a single .24-acre parcel, zoned RM2 (Residential Multifamily 2). Built in 1972, the building has solid bones and is positioned for both cosmetic upgrades
and long-term repositioning.
With strong rental demand in this established West Salem neighborhood, investors can capture significant upside through renovations, rent adjustments, or a longterm hold with steady appreciation. This 6-plex provides a combination of in-place income with clear pathways to enhanced returns.
Reach out to the broker for more info on lease terms and amenities
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Contacts
First Commercial Real Estate
Building Details
- For Sale $825,000
- Property Type Multi-Family
- Property Size 4,000 SF
- Lot Size 0.24 Acre
- Cap Rate % 6.03
- Year Built 1972
- Date Updated Apr 30, 2026
Getting Around
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Walk Score ®
Somewhat Walkable (57) -
Transit Score ®
Some Transit (36) -
Bike Score ®
Bikeable (69)
Location
- City Salem, OR
- Neighborhood West Salem
- Zip Code 97304
- Market Eugene
Points of Interest
Brooks Historical Society Depot
8.66 miles
Hopmere Station
8.75 miles
Circle K
0.80 miles
Space Age
0.84 miles
Blink
1.20 miles
Arco Gas Station
1.30 miles
ChargePoint
1.82 miles
76
1.92 miles
Chevron
2.00 miles
Shell
2.16 miles
Arco
2.34 miles
Riverfront Park (North Lot)
1.19 miles
Salem Library Parkade
1.34 miles
Liberty Square Parkade
1.34 miles
Chemeketa Parkade
1.34 miles
Lot 3
1.38 miles
Pringle Parkade
1.41 miles
Lot 2
1.41 miles
Marion Parkade
1.50 miles
M Lot
1.56 miles
Blue Elephant
0.79 miles
Big Red Car Wash
2.04 miles
Soap 'n' Suds
3.21 miles
Washman
3.52 miles
Roberson's Car Wash
3.65 miles
Power Kia
3.83 miles
Enterprise
4.08 miles
Magic Touch
4.12 miles
Car'l B Klean Self Serve
4.18 miles
Annette's
0.38 miles
Walery's Pizza
0.38 miles
Momiji Sushi
0.42 miles
Little Lois Cafe
0.57 miles
Domino's
0.70 miles
Wingstop
0.74 miles
Donut Dude City
0.74 miles
Jamba
0.76 miles
Panda Express
0.79 miles
Roth's
0.95 miles
Reed Opera House
1.35 miles
Pringle Park Plaza
1.40 miles
Ross
1.45 miles
Salem Center (South)
1.45 miles
Salem Center (North)
1.48 miles
Kohl's
1.50 miles
Grocery Outlet
1.51 miles
Macy's
1.55 miles
Walgreens
0.79 miles
SwiftCare Urgent Care
0.89 miles
West Salem Keiser Permanente
0.98 miles
Fire Station #11
1.21 miles
City of Salem Police Department
1.29 miles
AIYANA Aesthetics
1.31 miles
Salem Fire Station 1
1.33 miles
Salem Police Department
1.50 miles
Salem Hospital
1.70 miles
1520 7th St NW Listing Summary
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What is the asking price at 1520 7th St NW?
1520 7th St NW is currently listed for sale at Contact for pricing.
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What is the total size of 1520 7th St NW?
1520 7th St NW has a total of 4,000 square feet.
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What is the year built for 1520 7th St NW?
The year built for 1520 7th St NW is 1972.
First Commercial Real Estate
