» Campus-Adjacent Location Supporting Durable Rental Demand Irreplaceable Campus-Adjacent Location Orchard Crest Apartments sits directly adjacent to Oregon State University a nationally recognized flagship research institution and one of the most compelling student housing markets in the country. Properties at this proximity to a major university almost never trade. The location creates a durable competitive advantage that no new supply further from campus can replicate. » Year-Round Demand Beyond Undergrads Proximity to OSU supports a broad renter profile including graduate students, university staff, visiting faculty, and campus-adjacent professionals — expanding demand beyond traditional undergrad housing and supporting year-round occupancy that reduces seasonal volatility. Corvallis’s 2023 designation as a federal Regional Technology Hub, with projections of 5,000 to 12,000 new jobs by 2033, adds a further layer of non-student demand to an already undersupplied market. » Prime Infill Site with Redevelopment Potential The 0.98-acre site offers scale, frontage, and proximity ideal for purpose-built student housing or higher-density multifamily redevelopment. Existing 1964 improvements provide near-term income while allowing investors to capitalize on long-term land value through redevelopment into a modern, institutional-quality asset. The property is currently zoned RS-12, and the City of Corvallis has indicated a willingness to entertain an upzoning for higher-density residential development on the site. » Prime Infill Site with Redevelopment Potential 20,000+ Students Need Off-Campus Housing in Corvallis Oregon State’s Corvallis campus enrolls over 25,000 students, yet on-campus housing accommodates roughly 21% of the student population leaving more than 20,000 students reliant on off-campus housing in Corvallis alone. With 29 consecutive years of system-wide enrollment growth and continued investment in the Corvallis campus, this structural supply-demand imbalance supports strong occupancy fundamentals and provides a durable foundation for rent growth and redevelopment feasibility. Corvallis is classified as Oregon’s most rent-burdened community, with 37% of households severely cost-burdened a direct reflection of persistent housing undersupply. » Significant Barriers to New Supply Near Campus Infill land parcels of meaningful scale adjacent to OSU are extremely scarce, and zoning constraints, entitlement timelines, and land assembly challenges limit future competition. This supply-constrained environment positions the Property as a rare opportunity to control a premier redevelopment site in an irreplaceable location. » Strong Investor Demand in Comparable Redevelopments In 2025 alone, two campus-area student housing properties traded in Corvallis: The Union (68 units) was acquired by Cardinal Group Companies, and Santana Court (70 units, entitled for up to 650 beds) was acquired by Article Student Living — underscoring institutional conviction in the OSU-adjacent redevelopment thesis. Continued capital targeting purpose-built student housing reinforces pricing support and provides clear exit optionality following redevelopment or stabilization.