Location: Astoria, Oregon

Astoria Waterfront Apartments is a 66-unit, newly constructed Class A multifamily development situated along the Columbia River in Astoria, Oregon. Completed in 2024, this 3-story walk-up community was built from the ground up to meet the growing demand for high-quality rental housing in a historically supply-constrained coastal market. The property offers unmatched water views, walkable access to Astoria’s downtown core, and a modern living experience tailored to both working professionals and long-term residents.

The project was financed through a combination of internal equity and institutional bank debt, allowing the development team to retain full control of the execution while achieving favorable leverage. With strong local demand drivers, minimal competing inventory, and top-tier design, Astoria Waterfront is positioned as a long-term hold with attractive cash flow and equity appreciation potential.

Property Details

• Type of Property: 3-Story Multifamily Walk-Up

• Status: Completed

• Year Built: 2024

• Total Units: 66

• Unit Mix: 1BR and 2BR units (final mix TBD)

• Tenant Profile: Workforce housing, coastal professionals, and retirees

Investment Overview

• Investment Date: February 1, 2024

• Exit Date: Still Held

• Initial Investment Amount: TBD

• Projected Profit: TBD

• Projected ROI: TBD

• Hold Strategy: Long-term hold with potential for refinance or strategic exit upon stabilization

Capital Structure

• Equity: Internal capital from project sponsors

• Debt: Construction and permanent financing through institutional bank

• Leverage: Strategic use of debt to optimize investor returns while maintaining control

Development Strategy

• Ground-Up Construction: Designed and built in 2024 with modern building systems and tenant-focused amenities

• Site Advantage: Waterfront parcel with unobstructed river views, walking trails, and close proximity to retail and employment centers

• Design Features: Energy-efficient construction, marketable finishes, off-street parking, and professionally managed operations

• Stabilization Plan: Ongoing lease-up strategy targeting long-term renters and high retention

Investment Thesis

Astoria Waterfront Apartments fills a critical gap in a high-barrier-to-entry coastal market with strong demand and little new development. With stabilized rental income, strong location fundamentals, and modern construction, the asset is projected to produce long-term, durable cash flow and equity upside for investors seeking high-quality multifamily exposure in a coastal Oregon submarket.