This is an interesting development in the Youngs Bay area of Astoria. Could this mean some new Bay front condos? I'm guessing not likely, but not a bad investment for the future when the revitalization of Astoria continues 'round Smith Point.

The Bayshore Apartments, a 99-unit complex at 1400 W. Marine Drive in Astoria, OR, has sold for $3.85 million, or approximately $39,000 per unit. Bayshore Apartments Oregon LP purchased the four-building complex from a joint venture of Gryphon Enterprise LLC and the McCardle 1991 Family Trust.

Completed in 1971, the property has two three-story buildings and two four-story buildings comprised of 47 one-bed/one-bath units, 48 two-bed/one-bath units and four three-bed/one-bath units. It sits on three acres along Young's Bay and had a reported vacancy rate of 6% to 8% at the time of sale.
Courtesy of Co-Star News