North Albany Development Land near Corvallis/OSU
6.22 acres next to Corvallis/OSU, Oregon's most rent burdened and undersupplied housing market!
Marketing description
Located just minutes from the most undersupplied and rent-burdened housing market in Corvallis, Oregon and close to North Albany Village Shopping Center, this site offers RM Zoning which allows up to 150 units and allows single-dwelling units, townhomes, plexes, cottage clusters, and apartments up to 45 feet tall.* No wetlands. ODOT has approved that the current storm drain culvert is large enough to accommodate development. All things equal, seller prefers a quicker close over a longer contingency/entitlements period.
*Buyer to inquire with City of Albany Residential Zoning
Investment highlights
Greater Albany Public School District
RM Zoning
High Growth Area
Up to 25 Units Per Gross Acre
Minimal Current Property Taxes of $10,720 Per Year
Desirable Residential Area of Albany
Exceptionally Positioned as Bedroom Community to OSU/Corvallis (State’s Most Rent Burdened Market)
Short Drive To Salem
Positive Employment Trends and Diverse Employment Base
Population Expected to Grow by Anywhere From 25.6% to 36.9% by 2040 (Increase of 39% From 2000 to 2020).
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