1400 W Marine Dr - Apartments FOR SALE


Astoria, OR 97103
$13,900,000 USD
503-998-7413
1400 W Marine Dr, Astoria, OR for Sale
$13,900,000 USD
Apartments - FOR SALE
1/37
null | 6.12% Cap Rate

1400 W Marine Dr
Astoria, OR 97103


OVERVIEW

» Capital Improvements Completed The property benefits from meaningful recent investment, including electrical system upgrades completed in 2025, a full roof replacement in 2025, and updated exterior siding, reducing near-term capital needs and improving long-term asset durability. » Diverse Unit Mix Attracting a Broad Renter Base Offering a balanced mix of 1-, 2-, and 3-bedroom floor plans, the property appeals to a wide demographic professionals, couples, families, and retirees supporting stable occupancy and flexible demand. Bayshore Apartments enjoys a highly desirable setting along West Marine Drive with scenic bay views and immediate access to Astoria's coastal recreation. » In-Demand Amenities & Pet-Friendly Community With features such as onsite laundry, off-street parking, updated appliances, wood-style kitchen flooring, and a pet-friendly policy, Bayshore delivers amenities that meet modern renter expectations and increase retention. » Strong North Coast Market Fundamentals – Located in Astoria Oregon’s oldest and most storied coastal city the property benefits from a diversified North Coast economy supported by tourism, healthcare, education, port activity, and marine industries. Proximity to Seaside and Warrenton further enhances demand, driven by year-round tourism, regional employment centers, and limited coastal housing supply. The area’s historic character, outdoor amenities, and coastal lifestyle contribute to a resilient and consistently desirable rental market. » Stable Demographics and Growing Lifestyle Migration Astoria continues to attract new residents seeking coastal living, outdoor recreation, and small-town charm. Solid median incomes, a balanced household mix, and in-migration from Portland and other metro areas reinforce ongoing renter demand. » Compelling Value Proposition in a Tight Rental Market Bayshore Apartments offers an attractive combination of location, space, and amenities at pricing that remains competitive within the North Coast market. The property stands out as a compelling value alternative to newer coastal builds and typically experiences strong tenant interest.

FOR SALE DETAILS

PRICE

$13,900,000 USD

PRICE/SF

$243 USD /SF

# OF UNITS

100

PRICE/UNIT

$139,000

CAP RATE

6.12%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bayshore Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1971

PARKING SPACES

130

LAND DETAILS

LAND ACRES

3.52 AC

LAND SF

153,331 SF

ZONING

R3

APN/PARCEL ID

27029

ASK ABOUT THIS PROPERTY

Rob MartonHFO Investment Real EstateMore Info
503-998-7413

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Rob MartonHFO Investment Real EstateMore Info
503-998-7413

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.