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Additional details
Listed by Norris & Stevens Investment Real Estate Services • DavidK@norris-stevens.com
$ 2,250,000
Est. payment /mo
Active
840 AIRPORT RD Albany, OR 97322
6.46 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 560658359
HOA Y/N No
Annual Tax Amount $2,972
Tax Year 2025
Lot Size 6.460 Acres
Property Sub-Type Multi Family
Property Description
Investment Highlights• Total land area: ± 6.46 AC ( ± 281,398 sf)• Buildable area: ± 4.70 AC ( ± 204,732 sf)• ± 3.22 AC and ± 3.24 AC parcels• Zoned R-5 (low- to moderate-density residential)• Close to I-5, Heritage Mall, and Swan Lakes• Near major roads and transportation routes• Strong local housing demand driven by population growth• Located in the Willamette Valley with steady regional expansionMarketing Description• The site offers potential for up to approximately 125 townhomes or 100+ multifamily units, subject to buyer's design, zoning interpretation, and municipal approvals.• Zoning allows for a range of housing types, making the property well-suited for developers seeking to implement their own site plan and product mix rather than inherit pre-set designs.• Located near Highway 99E with convenient access to I-5, providing efficient north-south connectivity to Salem (± 25 minutes), Corvallis (± 15 minutes), Eugene (± 40 minutes), and the broader Willamette Valley.• Predominantly flat topography helps minimize grading and site-work costs, improving overall project feasibility and design efficiency.• Water, sewer, and power are available nearby, supporting streamlined infrastructure planning and reducing upfront development hurdles.• Albany continues to see population growth and sustained housing demand driven by regional employment, affordability relative to larger metros, and its central Willamette Valley location.• Positioned within an established area near employment centers, schools, and services, enhancing future resident appeal and long-term rental or for-sale performance.• One of the few remaining vacant residentially zoned parcels of scale in this submarket, offering developers a chance to execute a custom project in a supply-constrained environment.
Location
State OR
County Linn
Area _221
Zoning R-5
Exterior
Utilities Available ElectricityAvailable
Garage No
Schools
Elementary Schools South Shore
Middle Schools Calapooia
High Schools South Albany
Others
Acceptable Financing CallListingAgent
Listing Terms CallListingAgent
Amenities & Attractions