Taylor Place Apartments
Multifamily | 6.83% CAP | 30 Units
Marketing description
Astoria is Oregon's oldest city — a historic port town at the mouth of the Columbia River with a captive renter base, stable year-round employment anchors, and a dramatically constrained new supply pipeline. With a 44% renter household rate and ~4% vacancy, demand consistently outpaces supply.
Taylor Place Apartments is a 30-unit multifamily investment opportunity located at 1527/1543 Exchange Street in Astoria, Oregon. The property consists of three buildings built in 1880, 1923, and 1948, offering a mix of studio and 1-bedroom/1-bathroom units with an average unit size of 384 SF. The property is situated in downtown Astoria, 96 miles south of Portland via US-30, providing direct access to the Portland metro and I-5 corridor while maintaining a premier coastal lifestyle at the mouth of the Columbia River and Pacific Ocean.
Investment highlights
- Anchor Employment Base: Columbia Memorial Hospital (750+ employees, $200M+ expansion), U.S. Coast Guard Air Station, Port of Astoria, and Clatsop Community College provide stable, year-round renter demand.
- Limited Supply Constraints: Constrained coastal geography, historic district regulations, and limited buildable land restrict new multifamily pipelines — protecting existing asset values.
- Tourism & Highway Connectivity: US-101 northern terminus (18–22K AADT) and US-30 Portland link drive hospitality employment and seasonal worker housing demand, supporting consistent occupancy.
- 44.3% Renter Household Rate: 36% above national average
- ~4% Rental Vacancy Rate: Well below 7%+ national avg
- ~9,900 City Population: County seat of Clatsop County
- $125.6M Annual Visitor Spending: Astoria & Warrenton combined
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