Planned Multifamily Development
For Sale
Contact for pricing
459 Russell St, Ashland, OR 97520
Infill multifamily land with level topography, paved access, and concept plans for a 72-unit market-rate apartment community.
Property SizeContact for details
Lot Size0.86 Acres
Days on Market85
Property Features for 459 Russell St
General Information
Standard status
Active
Total Parking Spaces
44
Lot size
0.86 Acres
Property subtype
Land, Multifamily
Zoning
Railroad Climate Friendly Area (CFA)
Investment Type
Redevelopment
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
72
Building Details
Buildings
4
Stories
4
Listing Agency:
Marcus & Millichap - Portland
Listed By:
Georgie Christensen-Riley · License #201253912
Source:
Crexi
Added: May 28
Changed: Aug 8
Last Checked: Jul 15 at 10:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Portland
Investment Insights
Based on property information with market context.
Russell Street Commons offers two adjacent development parcels totaling approximately 0.86 acres, consisting of a 0.40-acre corner site at 449 Russell Street and a 0.46-acre adjacent parcel at 459 Russell Street. The land features level topography and paved access, with utilities stubbed to the site or located immediately adjacent. Conceptual development plans have been completed, and the current vision is for a 72-unit market-rate apartment community built as four four-story residential buildings totaling approximately 47,708 gross square feet, with a unit mix of studios, one-bedroom, and two-bedroom apartments.
The parcels are located within Ashland, Oregon, in the Railroad Climate-Friendly Area (CFA), a state-mandated pedestrian-focused mixed-use zone approved by the City Council. The Railroad CFA spans the former Union Pacific Railroad property off A Street and eliminates minimum parking requirements to support walkable, transit-oriented development. The site is positioned near Interstate 5, Highway 99, downtown Ashland, Southern Oregon University, and the Ashland Transit Center, providing access to key transportation corridors and employment drivers.
This offering is designed for a developer seeking control of both parcels to carry a planned high-density multifamily project forward under the Railroad CFA framework. Ownership has already completed substantial pre-development work, including a pre-application conference with the City, preliminary architectural design, and ongoing entitlement planning, and the project is currently in the Type II application preparation phase with civil engineering still pending.
The parcels are located within Ashland, Oregon, in the Railroad Climate-Friendly Area (CFA), a state-mandated pedestrian-focused mixed-use zone approved by the City Council. The Railroad CFA spans the former Union Pacific Railroad property off A Street and eliminates minimum parking requirements to support walkable, transit-oriented development. The site is positioned near Interstate 5, Highway 99, downtown Ashland, Southern Oregon University, and the Ashland Transit Center, providing access to key transportation corridors and employment drivers.
This offering is designed for a developer seeking control of both parcels to carry a planned high-density multifamily project forward under the Railroad CFA framework. Ownership has already completed substantial pre-development work, including a pre-application conference with the City, preliminary architectural design, and ongoing entitlement planning, and the project is currently in the Type II application preparation phase with civil engineering still pending.
Key Highlights
- Planned 72‑unit market‑rate apartment community concept on two adjacent parcels at 449–459 Russell Street in Ashland, OR.
- Two parcels total approx. 0.86 acres: 0.40‑acre corner at 449 Russell St and 0.46‑acre parcel at 459 Russell St.
- Concept plans include four four‑story buildings totaling approx. 47,708 SF with studio, 1‑bedroom, and 2‑bedroom unit mix.
Property Analytics
Property Profile
Current Use
Lease Details
72
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 97520, OR
25,970
Population
13,964
Households
1.9
Avg Household Size
47
Median Age
61%
College-Educated
96%
High-School Grad
328.8 sq mi
ZIP Area
79
Density / Sq Mi
$71,485
Median Household Income
$31,869
Median Earnings
$1,360
Median Rent
$568,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Infill multifamily land with level topography, paved access, and concept plans for a 72-unit market-rate apartment community.
Where is this residential land & home lot located?
The property is located at 459 Russell St Ashland, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Planned 72‑unit market‑rate apartment community concept on two adjacent parcels at 449–459 Russell Street in Ashland, OR.; Two parcels total approx. 0.86 acres: 0.40‑acre corner at 449 Russell St and 0.46‑acre parcel at 459 Russell St.; Concept plans include four four‑story buildings totaling approx. 47,708 SF with studio, 1‑bedroom, and 2‑bedroom unit mix.
