January 13, 2020— Kidder Mathews is pleased to announce the sale of The Astoria apartments for $12,000,000. The 68-unit apartment complex is located at 1913 N.E. 73rd Avenue in Portland, Oregon. Kidder Mathews’ team of multifamily investment brokers, Jordan Carter, Clay Newton, and Tyler Linn, exclusively represented both the seller, West Valley Properties, Inc., and buyer, J.E.M.S. Corp.
“The Astoria generated multiple offers due to its period charm, updated units, and its centralized eastside location,” said Kidder Mathews Executive Vice President Jordan Carter. “Additionally, The University of Western States, which is moving its headquarters just seven blocks up the street, will bring a new and consistent waive of chiropractic students and renters to the immediate area,” he added.
Located in Northeast Portland’s Rose City Park neighborhood, The Astoria was built in 1950 and has undergone extensive renovations over the last ten years. The charming mid-century, courtyard-style apartment homes are located on more than 2.5 acres, directly across from Portland’s Rose City Golf Course.