A rare 30-unit multifamily offering in the heart of Oregon's oldest city. Taylor Place consists of three character-rich buildings — dating to 1880, 1923, and 1948 — thoughtfully positioned on 0.34 acres just blocks from Downtown Astoria, the Riverwalk, and the Columbia River Maritime Museum. The property delivers a compelling blend of in-place cash flow and value-add upside in one of the Oregon Coast's most supply-constrained rental markets.

Priced at $3,600,000 ($120,000/unit) at a 6.83% cap rate, Taylor Place is currently 100% occupied with $34,219 in monthly scheduled income and $245,952 in NOI. Average in-place rents of $1,141 sit well below replacement levels, offering a clear runway for continued mark-to-market gains.

Astoria's fundamentals are built for long-term hold: a 44% renter household rate (36% above the national average), ~4% vacancy, and anchor employment from Columbia Memorial Hospital (750+ employees and a $200M+ expansion underway), the U.S. Coast Guard Air Station, the Port of Astoria, and Clatsop Community College. Constrained coastal geography and historic district regulations keep new supply minimal — protecting existing asset values and supporting steady rent growth.

Highlights

• 30 units across 3 buildings | 11,706 SF NRA

• 6.83% cap rate | $120,000/unit

• $1,141 avg in-place rent with meaningful mark-to-market runway

• Walkable downtown Astoria location, 96 miles from Portland via US-30

• Stable, diversified employment base and ~4% market vacancy