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Listed by SAMANTHA ALLEY • RE/MAX INTEGRITY CORVALLIS BRANCH • Cell: 541-918-5040

$2,950,000

Est. payment - /mo

44 Beds

22 Baths

18,304 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi- (5+)

Listing Status Active

Purchase Type For Sale

Square Footage 18,304 sqft

Price per Sqft $161

Subdivision Highland Lawn Acres

MLS Listing ID 845422

Bedrooms 44

Year Built 1977

Annual Tax Amount $26,084

Lot Size 0.830 Acres

Acres 0.83

Property Sub-Type Multi- (5+)

Property Description

22-unit value-add apartment complex in Corvallis with 3 buildings, townhouse-style floor plans, private patios, off-street parking and strong rent upside. Mix of original, partially updated& more modern rental-grade units. Pre-listing inspections, unit notes, floor plans, rent roll and financials available for review. Priced to reflect current condition, with some units remodeled, deferred maintenance & below-market rents & an opportunity for an experienced investor to improve, stabilize and grow income. Offering a rare opportunity for an experienced investor to acquire scale in a strong rental market. The property consists of three buildings with townhouse-style floor plans, private patios, off-street parking, and a mix of original, partially updated, and more modern rental-grade units. Several units have already received meaningful updates, including oak or hickory-style cabinetry, updated bathrooms, newer appliances, vinyl windows, newer doors, updated flooring, and improved heating in select units.Current rents are significantly below the projected remodeled market rent, creating a clear upside path through continued unit turns, exterior improvements, and rent stabilization. The property is being priced to reflect its current as-is condition, including deferred maintenance, below-market rents, vacancies, and inspection-noted repair items. This is not being presented as a turnkey stabilized asset today; it is a repositioning opportunity with strong long-term income potential.Seller has completed pre-listing inspections for all three buildings, and an inspection overview has been created as unit-by-unit condition summary, rent roll, financials, floor plans, and supporting documents are available for review. The inspection summary identifies building and unit-level items so buyers can evaluate the property with more clarity before writing an offer.For investors looking for a Corvallis multifamily asset with unit count, upside, and a practical improvement path, this property offers a compelling opportunity to improve condition, increase income, and reposition the asset over time. Asking price: $2,950,000.

Location

State OR

County Benton

Area 70 Benton County

Rooms

Dining Room Area (Combination)

Interior

Hot Water Electric

Heating Electric, Baseboard, Zonal

Flooring Carpet, Luxury Vinyl Plank, Vinyl

Laundry Laundry Center, W/D Included

Exterior

Fence Yes

Roof Type Composition,Shingle

Building

Foundation Slab

Sewer City

Water City, Connected

New Construction No

Schools

Elementary Schools Garfield

Middle Schools Linus Pauling

High Schools Corvallis

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Nearby Locations

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Samantha Alley

+1(541) 918-5041

Listing Specialist and Principal Broker License ID: 941000189 | RE/MAX INTEGRITY

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924-928 NW Sycamore Av Corvallis, OR 97330