Thursday, September 6, 2018

Sold! 22 Units in Corvallis, Oregon

The Arcade Apartments (1969) is located adjacent to Oregon State University. The resident profile is predominately students due to its location, but the asset was rented as market-rate by the unit and not by bedroom. The sellers had completed extensive interior and exterior updates throughout the property over the last 10 years. Updates included a new roof, exterior paint, seal coat and exterior doors and lighting. 

The property had been owned for more than 30 years by a family that decided to exit multifamily ownership. The asset was offered for sale with a sister property, Santana Court. HFO managed the process by targeting investors with interest in the Corvallis area and owners of student housing throughout the the nation.  Our extensive relationships with financially qualified investors enabled us to locate a motivated and well-qualified buyer eager to acquire assets in Corvallis. For additional information about this transaction, contact an HFO broker at (503) 241-5541.

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