Current Listings
Alameda Complex
630-638 Alameda Ave, Astoria, OR 97103
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Price:
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$1,195,00
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No. of Units:
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12
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Price per Unit:
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$66,250
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Building Size:
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9,744 SF
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Property Type:
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Multifamily
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Property Sub-type:
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Garden/Low-Rise
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Property Use Type:
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Investment
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Occupancy:
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100%
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Lot Size:
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0.45 AC
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Listing ID:
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17723342
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Listing Agent:
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Peter Tadei
503.325.3400
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Highlights:
- Guarenteed Rents
- 100% Occupany
- Assumable Loan
- Possible Seller Financing
- 9.2% Cap Rate
- Well-managed Complex
Description
Property consists of three- four plex units, with 10 - 2 bedroom units and 2 - 1 bedroom units. All units are single level, have covered parking, deck and laundry. Complex is on bus line & near schools. Upper units have views of Young' s Bay. Extra parking in front and back of complex, plus a flat, landscaped grass area in the back. Directly across from the apartment entrance is a forested hillside. The neighborhood consists of nice well-kept homes.
The Alameda Apartments were purchased in November of 2004 as part of a larger portfolio. Overall condition of property is good. Exterior of the entire complex was recently painted and decks rebuilt. All units have been upgraded on turn-over. All two bedroom units are identical in layout as are the one bedroom units. Property has room for extra covered parking in the back lot. There is a possibility of converting one of the covered parking areas into two studio units and a common laundry room for higher income potential. Rental Market in Astoria is strong.

Situated on the sunny southwest slope of Astoria, located two blocks from Capt. Robert Gray School (kindergarten-elementary), a short walk to Astoria High School (9-12) and several baseball fields, a skateboard park and a popular city children' s play park. Just minutes away from the city of Warrenton and major shopping including Costco, Home Depot, Fred Meyers, Ross-Dress-For-Less, Rite Aid, Walgreen' s, auto dealerships and several smaller retail/office centers. Also in the development stage is another quarter million sq ft of retail shopping centers and the 500 plus jobs they will bring.
The Alameda Apartments are ideally located for renters who may work just 5 minutes away in Warrenton or who might work only 5 minutes away in downtown Astoria. Easy to get to and from, close to schools and shopping - a solid investment in Astoria.

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