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First Commercial Real Estate

First Commercial Real Estate
Property Details
- Property Type Multi-Family
- Property Size 69,104 SF
- Units 55
- Lot Size 1.59 Acre
- Cap Rate % 6.45
- Parking Spaces Avail. 70
- Parking Ratio 1.01 / 1,000 SF
- Year Built 1962
- Date Updated Sep 24, 2025
Somerset East Apartments features 55 units comprised of five, two or three story buildings. This well-appointed property features spacious one, two, and three-bedroom apartments situated on 69,104 SF (1.59 acres).
Units include fully equipped kitchens, private patios or balconies, and access to a pet-friendly environment, complemented by ample on- and off-street parking. Strategically situated in Northeast Salem near the MLK Parkway, Somerset Apartments offers proximity to Keizer and is just minutes from Downtown Salem and Interstate 5. With multiple bus lines at its doorstep, residents enjoy seamless connectivity throughout the Salem-Keizer area, ensuring effortless commutes and access to local amenities.
Capital Improvement Projects completed in the last 18 months totaling
over $375,000:
• 18 units have signi¿cant interior improvements
• Siding, paint, gutters, railings on decks, deck repairs/
replacements, drywall, signage, landscape including complete
replacement of irrigation
Reach out to the broker for more info on lease terms and amenities
Getting around
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Walk Score ®
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Transit Score ®
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Bike Score ®
Location
- City Salem, OR
- Neighborhood Higland
- Zip Code 97301
- Market Eugene
Points of Interest
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Salem
2.23 miles
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Brooks Historical Society Depot
6.54 miles
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Hopmere Station
6.63 miles
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Blink
0.29 miles
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ChargePoint
0.33 miles
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76
0.35 miles
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Space Age
1.52 miles
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Circle K
1.63 miles
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Pacific Pride
1.65 miles
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Shell
1.66 miles
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Arco
1.76 miles
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Pulse
1.76 miles
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Marion Parkade
1.42 miles
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Green Lot - Dept of Admin Services
1.48 miles
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Chemeketa Parkade
1.61 miles
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Riverfront Park (North Lot)
1.62 miles
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Liberty Square Parkade
1.83 miles
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Riverfront Park (South Lot)
1.86 miles
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Wallace Road Park and Ride
1.93 miles
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Market Street Park and Ride
1.96 miles
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Reserved Lot A
1.99 miles
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Pringle Parkade
1.99 miles
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Motel 6
1.01 miles
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Traveler's Inn
1.05 miles
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Holman Riverfront Park Hotel Salem, Tapestry Collection by Hilton
1.83 miles
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Grand Hotel
1.88 miles
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Holiday Inn
1.92 miles
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Shilo Inn and Suites
1.97 miles
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Knights Inn
2.00 miles
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DoubleTree
2.08 miles
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Capital Inn & Suites
2.10 miles
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Motel 6 Salem
2.12 miles
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Fred Meyer
0.28 miles
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Cash & Carry
0.71 miles
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Grocery Outlet
1.12 miles
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Keizer Village Shopping Center
1.21 miles
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Bi-Mart
1.29 miles
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Roth's
1.42 miles
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Kohl's
1.48 miles
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A Dong Market
1.50 miles
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Salem Center (North)
1.50 miles
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Macy's
1.51 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.