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426 NW 11th St 12 Unit Apartment Building $2,400,000 ($200,000/Unit) 4.80% Cap Rate Corvallis, OR 97330
INVESTMENT HIGHLIGHTS
- Within 1 mile to Oregon State University
- Dedicated Parking and Bike Storage
- On site laundry
EXECUTIVE SUMMARY
426 NW 11th St. Corvallis, OR 97330 is located approximately .7 mile from the center of Oregon State University; .6 miles from Downtown Corvallis business corridor; 1.1 miles to Reser Stadium. Built in 1964, with renovations in 2020-2023, the property is comprised of the following residential units:
12 - Two Bedroom / One Bathroom Units.
2 - On site laundry facilities
12 - Personal Storage Lockers
1250 SW E St, Corvallis, OR 97330 is being offered as a turn-key investment opportunity. All units are currently under lease with potential increase in cash flow by capitalizing on annual rental increases. The property has an on-site laundry facility on the basement level and upper level with four coin operated washer/dryer units.
The property features on-site parking for convenience and landscaped lawn areas.
Tenants pay electric, as each unit is separately metered. Common-area meters include laundry space and outdoor lighting. Water is provided on a single meter to the property and could be prorated back to tenants on new lease structures.
Recent Appraisal on file with Listing Broker at List Price. Currently operating with 25% vacancy rate due to recent updating of units.
12 - Two Bedroom / One Bathroom Units.
2 - On site laundry facilities
12 - Personal Storage Lockers
1250 SW E St, Corvallis, OR 97330 is being offered as a turn-key investment opportunity. All units are currently under lease with potential increase in cash flow by capitalizing on annual rental increases. The property has an on-site laundry facility on the basement level and upper level with four coin operated washer/dryer units.
The property features on-site parking for convenience and landscaped lawn areas.
Tenants pay electric, as each unit is separately metered. Common-area meters include laundry space and outdoor lighting. Water is provided on a single meter to the property and could be prorated back to tenants on new lease structures.
Recent Appraisal on file with Listing Broker at List Price. Currently operating with 25% vacancy rate due to recent updating of units.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 4.80% | Building Size | 13,200 SF |
| Gross Rent Multiplier | 17.15 | Average Occupancy | 75% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.61/1,000 SF |
| Zoning | RS-9 - Medium Density Residential | ||
| Price | $2,400,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| Gross Rent Multiplier | 17.15 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 13,200 SF |
| Average Occupancy | 75% |
| No. Stories | 3 |
| Year Built/Renovated | 1964/2020 |
| Parking Ratio | 0.61/1,000 SF |
| Zoning | RS-9 - Medium Density Residential |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | $1,295 | 907 |
1 1
Walk Score®
Very Walkable (83)
Bike Score®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | 119812 | Total Assessment | $773,575 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
119812
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$773,575 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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426 NW 11th St
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