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Bayshore Apartments 1400 W Marine Dr 100 Unit Apartment Building $18,750,127 CAD ($187,501 CAD/Unit) 6.12% Cap Rate Astoria, OR 97103
Executive Summary
» 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.
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.
Property Facts
| Price | $18,750,127 CAD | Building Class | C |
| Price Per Unit | $187,501 CAD | Lot Size | 3.52 AC |
| Sale Type | Investment | Building Size | 57,100 SF |
| Cap Rate | 6.12% | Average Occupancy | 100% |
| No. Units | 100 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2013 |
| Property Subtype | Apartment | Parking Ratio | 2.28/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | R3 | ||
| Price | $18,750,127 CAD |
| Price Per Unit | $187,501 CAD |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 3.52 AC |
| Building Size | 57,100 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1971/2013 |
| Parking Ratio | 2.28/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Heating
- Ceiling Fans
- Kitchen
- Range
- Tub/Shower
- Carpet
- Vinyl Flooring
- Window Coverings
Site Amenities
- Laundry Facilities
- Property Manager on Site
- Laundry Service
- Package Service
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 49 | - | 510 |
| 2+1 | 47 | - | 620 |
| 3+1 | 4 | - | 710 |
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Contacts
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Rob Marton -
Gregory Frick -
Cody Hagerman -
Tyler Johnson -
HFO Investment Real Estate
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Bayshore Apartments | 1400 W Marine Dr
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