Investment Overview

Astoria Twelve, situated in the scenic town of Astoria, Oregon, represents a prime investment opportunity with its three contiguous tax lots, comprised of a six-plex, a four-plex, and a duplex. The property features a well-balanced mix of units, including five one-bedroom, one-bath apartments and seven two-bedroom, two-bath units. Over the past decade, significant capital improvements have been made, including the installation of new roofs across all buildings, the reconstruction of multiple exterior stairways, and various interior renovations. These upgrades enhance the property’s overall condition and reduce future maintenance requirements. Offered at an attractive 7.36% cap rate based on current financials, Astoria Twelve also presents considerable value-add potential. The existing rents are approximately 15% below market rates, providing investors with the opportunity to increase returns through further interior renovations and aligning rents with the current market. Additionally, the property enjoys picturesque views of the Astoria-Megler Bridge, one of the largest bridges in the United States. Astoria Twelve is located just a few blocks from Cannery Pier Hotel & Spa, as well as Marina West Basin, the largest marina in the city, and a half mile from Buoy Beer Co. This combination of recent improvements, strategic location, and significant upside potential makes Astoria Twelve a compelling investment proposition in a highly sought-after area.