440 NW 23rd St - Apartments FOR SALE


Corvallis, OR 97330
$4,795,888 USD
503-241-5541
440 NW 23rd St, Corvallis, OR for Sale
$4,795,888 USD
Apartments - FOR SALE
1/37
null | 6.4% Cap Rate

440 NW 23rd St
Corvallis, OR 97330


OVERVIEW

Arcade Apartments presents a compelling investment opportunity just blocks from Oregon State University in Corvallis, Oregon — a high-barrier market where constrained multifamily development supports strong occupancy and long-term rent stability. The property benefits from durable, campus-driven rental demand, recent capital improvements that reduce near-term maintenance exposure, and value-add amenities including off-street parking and income-generating on-site laundry. With the asset currently operated as conventional multifamily, there is meaningful operational upside through a transition to a by-the-bed, student-focused leasing model aligned with the academic calendar — a strategy that typically drives higher effective rents, stronger occupancy, and more predictable revenue.

FOR SALE DETAILS

PRICE

$4,795,888 USD

PRICE/SF

$188 USD /SF

# OF UNITS

22

PRICE/UNIT

$217,995

CAP RATE

6.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Arcade Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

RS-20

APN/PARCEL ID

095152

ASK ABOUT THIS PROPERTY

Greg FrickHFO Investment Real EstateMore Info
503-241-5541

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Greg FrickHFO Investment Real EstateMore Info
503-241-5541

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.