13 Hours Ago
Highlights
Pet Friendly
Location
540 Wallace Rd Nw, Salem, OR 97304, USA|West Salem
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Property Overview
WALLACE PARK APARTMENTS (03) is a highly rated community, earning a 9.4/10 Zumper Expert Rating with standout scores for price, amenities, location, and overall quality, plus a strong trustworthiness rating. Renters benefit from competitive value, an impressive amenity package, a convenient setting near a top-rated high school, and strong nearby pet services, with ample photos to preview the property.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
High school nearby- Images Available
- Laundry available on site
Great for
Pet owners
Floor plans
| 2 Bedroom 1 Bathroom | 2 bed | 1 bath | 986 sqft | $1,325–$1,400 /mo | 2 units available | Invest West Management (360) 254-5700 www iwmrentals com Charming Apartment Near Wallace Park Enjoy comfortable living in the desirable Wallace Park area. This apartment offers a convenient layout and access to great community amenities. Apartment Features Carpet and vinyl flooring Open living, dining, and kitchen area Range, refrigerator, dishwasher, and garbage disposal included Ceiling fan in dining area Electric wall heat Washer/dryer hookups On-site coin-operated laundry facilities Carport parking All information, including amenities and features, is provided to the best of our knowledge but is not guaranteed; applicants are encouraged to verify any details important to them during a required property viewing prior to submitting a deposit or application. |
Let's explore this property.
Amenities for WALLACE PARK APARTMENTS (03)
Apartment Amenities
| Carpet | Carpet/Vinyl |
| Ceiling Fan |
Appliances
| Dishwasher |
Building
| Carport | Cats OK |
| Clubhouse with Fitness Center | Dogs OK |
| Fitness Center | Onsite Laundry |
Other
| Pet Screening is Mandatory Before Approval |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Dog Policy
Allowed
Limit1
Cat Policy
Allowed
Limit1
Questions about this property’s policies and fees?
Building details
Property details
| Units | 65 |
|---|
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About WALLACE PARK APARTMENTS (03)
Invest West Management (360) 254-5700 www iwmrentals com Charming Apartment Near Wallace Park Enjoy comfortable living in the desirable Wallace Park area. This apartment offers a convenient layout and access to great community amenities. Apartment Features Carpet and vinyl flooring Open living, dining, and kitchen area Range, refrigerator, dishwasher, and garbage disposal included Ceiling fan in dining area Electric wall heat Washer/dryer hookups On-site coin-operated laundry facilities Carport parking All information, including amenities and features, is provided to the best of our knowledge but is not guaranteed; applicants are encouraged to verify any details important to them during a required property viewing prior to submitting a deposit or application.
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
9.4
/10
ExcellentWALLACE PARK APARTMENTS (03) is an excellent find, offering residents a superior living experience with a wide range of desirable features. Residents will particularly enjoy knowing that this property rated highest in Price and Amenities, which help to make this rental a great place to call home.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
WALLACE PARK APARTMENTS (03) offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·10A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
WALLACE PARK APARTMENTS (03) stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks—pets allowed—making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
WALLACE PARK APARTMENTS (03) is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·9A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
WALLACE PARK APARTMENTS (03) has a few standout characteristics that set it apart from similar properties nearby. Having both verified status and features that cater to discerning renters, this is a great option for renters looking for a specific and exceptional lifestyle.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
Reviews from the web
Showing 5 highest rated
Really clean and great placement of the apartments
Anneliese Bebber
Jun 12, 2016
Lived there for about a year. Beautiful surroundings, quiet neighbors, and very well maintained. Everything worked - no issues. Lori, the apartment manager, was always around and incredibly helpful as well. Any issue I had, it was resolved immediately. There's a gym and a laundry facility, and easy access to the trash areas. Not to mention, you're a block away from Starbucks, Roths, US Bank, Walgreens, the library and anything else you might need. It's also walking distance to downtown by crossing the gorgeous bridge, a few minutes to get to Wallace Marine Park and be surrounded by nature, or take a dip by the Williamette River with your family. I don't want to oversell this place. If I returned to Salem, I'd move back here in an instant.
Rocky Kev
Dec 26, 2017
We’re sharing just 5 of many, sorted highest to lowest. Visit the Google business profile to view all reviews.
WALLACE PARK APARTMENTS (03) is great for:
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How WALLACE PARK APARTMENTS (03) compares to other nearby properties.
Positives
- High school nearby
- There is a high school 1 mile away
- Images Available
- There are at least 10 photos of this address
- Laundry available on site
- Washers and dryers are available in-building or in-unit
Considerations
- Greater distance from grade schools
- The nearest elementary school is farther than 1 mile away
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Rent trends in West Salem
2-bedroom apartments at WALLACE PARK APARTMENTS (03) cost about 13% less than the average rent price for 2-bedroom apartments in West Salem.
Median rents as of May 30 2026.
West Salem
Salem
| Month | Median Rent |
|---|---|
| June 2024 | $1,181 |
| July 2024 | $1,209 |
| August 2024 | $1,217 |
| September 2024 | $1,187 |
| October 2024 | $1,196 |
| November 2024 | $1,198 |
| December 2024 | $1,196 |
| January 2025 | $1,150 |
| February 2025 | $1,156 |
| March 2025 | $1,140 |
| April 2025 | $1,100 |
| May 2025 | $1,100 |
| June 2025 | $1,137 |
| July 2025 | $1,150 |
| August 2025 | $1,150 |
| September 2025 | $1,142 |
| October 2025 | $1,150 |
| November 2025 | $1,150 |
| December 2025 | $1,130 |
| January 2026 | $1,125 |
| February 2026 | $1,142 |
| March 2026 | $1,150 |
| April 2026 | $1,137 |
| May 2026 | $1,103 |
| Month | Median Rent |
|---|---|
| June 2024 | $1,324 |
| July 2024 | $1,297 |
| August 2024 | $1,197 |
| September 2024 | $1,299 |
| October 2024 | $1,298 |
| November 2024 | $1,337 |
| December 2024 | $1,253 |
| January 2025 | $1,250 |
| February 2025 | $1,212 |
| March 2025 | $1,235 |
| April 2025 | $1,127 |
| May 2025 | $1,179 |
| June 2025 | $1,178 |
| July 2025 | $1,379 |
| August 2025 | $1,285 |
| September 2025 | $1,250 |
| October 2025 | $1,235 |
| November 2025 | $1,272 |
| December 2025 | $1,301 |
| January 2026 | $1,301 |
| February 2026 | $1,384 |
| March 2026 | $1,320 |
| April 2026 | $1,173 |
| May 2026 | $1,125 |
Affordability calculator
Can I afford to live at 540 Wallace Rd Nw?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$53,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $53,000 annually to afford this 2-bedrooms monthly rent price of $1,325.
For more information on rent affordability, visit our rent calculator.
Schools near WALLACE PARK APARTMENTS (03)
Harritt Elementary School
2112 linwood st nw
salem, OR, 97304
K-5Public
C+
Oregon School for the Deaf
999-a locust st ne
salem, OR, 97303
K-12Public
North Santiam Options Academy
757 w locust st
stayton, OR, 97383
K-12Public
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Internet available near WALLACE PARK APARTMENTS (03)
Getting around Salem near 540 Wallace Rd Nw
Walking
6/10
Some shops and stores are within a few minutes.
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
5/10
Frequent public transit options are within walking distance.
Points of interest for 540 Wallace Rd Nw, Salem
Groceries
9/10
At least one grocery store within a few minutes' walk
Shopping
6/10
Variety of shops within walking distance
Cafes
6/10
Some cafés within walking distance
Restaurants
7/10
Variety of restaurants within walking distance
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
8/10
At least one high school within a 20-minute walk
Parks
9/10
Large amount of park space nearby
Nightlife
4/10
Some bars within walking distance
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