About This Home

This 3-bedroom, 1-bathroom condo at 231 Commercial St NE in Salem, OR is listed for $549,900 ($289 per sqft). Built in 1867, the home offers 1,906 sqft of living space on a 0.10 acres lot.

Key Features

  • Built in 1867
  • 0.10 acre lot

Property Details

1 story
1 full
1867

Amenities

View
Listing Description

Turnkey Short-Term Rental Investment with Bookings into June 2027! Own a piece of Salem's history while generating rental income! Located in the iconic Starkey-McCully Building, once home to a speakeasy, this rare 3-bedroom historic loft is the largest of the Downtown Salem Loft Condominiums.

Currently operating as a successful short-term rental with an average nightly rate of approximately $235 and reservations already booked into June 2027. This property offers investors an established rental opportunity. Featuring original 1800s old-growth fir floors, soaring ceilings, a jetted tub, and a premium Sub-Zero refrigerator, this one-of-a-kind residence blends historic character with modern comforts.

Ideally located near Salem Hospital, Willamette University, the Oregon State Capitol, and downtown dining and entertainment. Offered fully furnished, including artwork, making this a truly turnkey investment opportunity. Historic charm, an established rental business, and future reservations make this an exceptional addition to an investment portfolio!

Monthly Cost Estimate

$3,505/mo

20% down · 6.5% · 30 years

Principal$398
Interest$2,383
Insurance$160
HOA$564

Estimates only. Actual payments may vary.

Location

231 Commercial St NE

Salem, OR 97301

Features & Amenities

Interior Features

Yes (Refer to Remarks)

Property Details

Flooring

WoodVinyl

Views

Territorial

Outdoor Features

Deck

Questions & Answers

This 3-bedroom, 1-bathroom condo at 231 Commercial St NE is listed at $549,900 ($289/sqft). The estimated monthly payment is $3,505 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance, HOA fees.

HOA fees are $564/month.

Key features include: Built in 1867, 0.10 acre lot. Interior Features: Yes (Refer to Remarks).

This property is listed by MARTA GUAJARDO.

MG

MARTA GUAJARDO

Agent at HomeSmart Realty Group

Listed by HomeSmart Realty Group · Broker phone: (971) 599-5865 · View on Broker Site · Broker website

MLS# 836883· Source: Willamette Valley Multiple Listing Service· 266 days on PropertySimple

Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

231 Commercial St NE, Salem, OR 97301

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