NEW! Buy and sell safely with virtual options - Learn More
About the Listing 1411 - 13319,11511
Turn-Key Opportunity - Located just 5 blocks from OSU, .6 miles from Downtown Corvallis, and 1.1 miles to Reser Stadium, this 12-unit apartment building offers a prime college-town investment with reliable cash flow and long-term upside. Built in 1964 and updated between 2020–2023, the property features 12 2BR/1Ba units, 9 currently leased and 3 updated units ready to capture current market rents. Solid low-maintenance investment in one of the Oregon Willamette Valley's most desirable rental markets. Opportunity right here! This 12-unit multifamily property offers a rare opportunity to acquire a stable, income-producing asset a stone's throw from the heart of OSU's Corvallis campus at $200K per 2BR/1Ba 600sf unit. Amenities include coin-operated laundry, 12 off-street parking spaces (1:1 ratio) plus ample street parking, and individual electric water heaters. The property is well-maintained, with functional, market-typical finishes. Units have been updated as they turned, appealing to new tenants and retaining longer term tenants.The site is zoned RS-9 Medium Density Residential and lies within the University Neighborhoods Overlay (UNO), offering both secure multifamily use and potential incremental density or redevelopment opportunities. RS-9 supports duplexes, triplexes, fourplexes, townhomes, and single detached units, while UNO ensures compatibility with the neighborhood context.The Corvallis MSA has approximately 9,404 apartment units, with a current vacancy rate of 4.2%, below the five-year average, and rents ranging $1,216–$1,889, highest near OSU. This reflects strong, sustained demand driven by students and faculty.This property presents predictable cash flow, long-term stability, and strategic upside potential — ideal for investors seeking a turnkey multifamily asset in a supply-constrained, high-demand university rental market.
Listing Highlights
Status
Active
Days on Site
6
Property Type
Multi-Family
MLS ®
835531
Year Built
1964
Total Square Footage
9,288
Lot/Acreage
0.25
County
Benton
Neighborhood
Hoffmans
Area
70 BENTON COUNTY
Elementary School
509J
Middle School
Linus Pauling
High School
Corvallis
Interior Details
- Bedrooms: 24
- Bathrooms: 12 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City,Connected
Exterior Details
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $14,860
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
426 NW 11th St Corvallis, OR 97330
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
