Shadow Hills Apartments
Corvallis, OR
Asset Summary
Investment Highlights
- University-Adjacent Location: Ideally located next to Oregon State University, offering a short walk to campus and direct access to over 36,600 students and 4,700 staff.
- Significant Upside Potential: Rents currently 27% below market rates, providing ample room for increased profitability through operational improvements.
- Proven Demand: The property has seen impressive rent increases aided by student turnover over the past three years.
- Strong Renter Demographics: With over 68% of OSU students living off-campus and a 77% renter-occupied-housing rate within a mile radius of the property, the demand for housing remains robust.
Introducing Shadow Hills Apartments, a thriving 72-unit community strategically located adjacent to Oregon State University in the heart of Corvallis, Oregon. Built in 2003, this asset stands as one of only five newer construction projects in Corvallis tailored to cater specifically to the student housing demand. This prime location within a supply-constrained market has witnessed remarkable rent increases over the past three years, highlighting the immense potential for growth and profitability.
Shadow Hills Apartments offers an exciting opportunity as the property’s rents have dipped well below the burgeoning market rates. Leveraging the scarcity of new construction ventures in Corvallis and the prominence of Oregon State University, the largest educational institution in the state, Shadow Hills Apartments is poised for sustained high demand in the foreseeable future.
