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$535,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • Updated 3 days ago
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Calling all investors-don't miss this exceptional three-unit multifamily opportunity. This property is ideal for investors looking to expand their portfolio or for an owner-occupant who wants to live in one unit while renting out the other two.All units have been renovated, and the building is fully occupied. The seller currently resides in one unit, with the remaining two secured by leases. Located on a quiet, tree-lined street, the property offers a peaceful and desirable setting.Whether you're adding to an existing portfolio or purchasing your first investment property, this one delivers. The numbers are strong, with an actual cap rate exceeding 6%.Please submit offers contingent upon a walkthrough. Kindly do not disturb the tenants or walk the property.

Full Property Details for 581 Highland Ave

General

  • Price: $535,000
  • Taxes: $4,049 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: RWMLS
  • MLS ID: 487660105
  • Updated: 1/13/2026
  • Added to Site: 5 day(s) ago

Rental Information

  • Rent Includes: Maintenance Grounds, Sewer, Trash Collection, Water

Additional Information

  • Security/Safety: None

Parking

  • Parking Features: On Street

Location

  • County: Marion
  • Driving Directions: Broadway to Highland

School Information

  • Elementary School: Hammond
  • Middle School: Parrish
  • High School: North Salem

Community

  • Community Name: 176 - Marion Co: East Salem N

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Wall Furnace
  • Heating Fuel: Electricity

Utilities

  • Sewer: Public Sewer
  • Water: Public Water

Structural Information

  • Property Detached: Yes
  • Roof: Composition
  • Stories/Levels: 1
  • Year Built: 1937
  • Property Condition: Updated/Remodeled

Lot Features

  • Lot Size (Acres): 0.08
  • Lot Size (Sq. Ft.): 3,484
  • Lot Size: 3, 000 to 4, 999 SqFt
  • Frontage: Concrete, Paved
  • Lot Features: Level, Trees

Financial Considerations

  • Operating Expenses: $10,800
  • Tax Amount: $4,049.94
  • Tax Year: 2025
  • Terms: Cash, Conventional, FHA

Disclosures and Reports

  • Legal Description: HIGHLAND AVE ADD SALEM FR LOT 7 BLK 10
  • Disclosures/Reports: Disclosure
  • Property ID: 577112

Listed by Bridgetown Equity Prop LLC (503) 475-3333, Michael Bivens (503) 475-3333

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Listing agent

— 581 Highland Ave —

  • Michael Bivens

    Bridgetown Equity Prop LLC

    503-475-3333

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

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NMLS#: 1598647

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Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 581 Highland Ave

School District:Salem-Keizer School District 24j
NameGradesDistance
Highland Elementary School, Salem, OR
530 Highland Ave NE, Salem, OR 97303
PK-50.1 mi
Parrish Middle School
802 Capitol Street Northeast, Salem, OR 97301
6-81 mi
North Salem High School
765 14th Street Northeast, Salem, OR 97301
9-121.1 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 581 Highland Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/12/2026
Listed
$535,000
45.58%
MLS
1/20/2021
Sold
$367,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 581 Highland Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,758
3%
$191,390
3%
2023
$3,647
6%
$185,820
6%
2021
$3,444
-3%
$175,160
-3%
2022
$3,545
51%
$180,410
51%
2020
$2,342
7%
$119,100
3%
2019
$2,192
-2%
$115,640
3%
2018
$2,230
11%
$112,280
3%
2017
$2,013
5%
$109,010
3%
2016
$1,918
-1%
$105,840
3%
2015
$1,932
3%
$102,760
3%
2014
$1,870
6%
$99,770
3%
2013
$1,768
—
$96,870
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Bridgetown Equity Prop LLC (503) 475-3333, Michael Bivens (503) 475-3333

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581 Highland Ave, Salem, OR 97301 (MLS# 487660105) is a Multi-Family property with 3 units containing 0 bedrooms and 0 full bathrooms. 581 Highland Ave is currently listed for $535,000 and was received on January 12, 2026. Want to learn more about 581 Highland Ave? Do you have questions about finding other Multi-Family real estate for sale in Salem? You can browse all Salem real estate or contact a Coldwell Banker agent to request more information.

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