1913 NE 73rd Ave
Portland, OR 97213
The Astoria · Multifamily Property For Sale · 68 Units

Built in 1950 and renovated in 2014, The Astoria consists of 68 units with modern amenities and mid-century charm. Close to transit and shopping, The Astoria combines quiet residential living, with proximity to all the excitement that Portland’s east side has to offer. Situated on a private cul-de-sac, The Astoria has three separate parking lots and more than 60 parking spaces. The central courtyard features a seasonal pool, fitness center, bike storage, laundry facilities, and storage cabinets, as well as plenty of green space for outdoor activities. The property has had more than $1.1 million in recent renovations to the interior and exterior. Exterior improvements include newer roofs, paint, and energy efficient vinyl windows. The interiors have been renovated in 65 of the 68 units, with new kitchens featuring modern cabinets and hard surface counters, new fixtures, and refinished hardwood doors (lower level) or carpet and vinyl (second level). Average rents are presently 5% below market, providing upside through lease renewals and unit turns. The Astoria is located in the Rose City Park neighborhood, and situated near the Historic Hollywood Shopping District and the Jade International District, and Alameda/Beaumont neighborhoods. The property is directly across from the Rose City Golf Course, the second oldest golf course in Oregon. At the west end of the golf course is Rose City Park, which features sports fields, play structures, a picnic area, and walking paths. The property is also close to the I-84 and I-205 freeways, TriMet 77 Bus Line, and the NE 82nd Avenue Max Light Rail station. Downtown Portland is just a 10-minute drive west, the Portland International Airport is 10-minutes to the north, and Gresham is 20-minutes east.