506 US-101 - Apartments FOR SALE


Rockaway Beach, OR 97136
$725,000 USD
503-355-3036
506 US-101, Rockaway Beach, OR for Sale
$725,000 USD
Apartments - FOR SALE
1/34
null | 6.65% Cap Rate

506 US-101
Rockaway Beach, OR 97136


HIGHLIGHTS

  • Spectacular ocean views with a second story. See remarks
  • Highway 101 frontage

OVERVIEW

Investment property with many options! Sale includes tax lots 04000 & 04100. Room to build a large (ocean view) building up to 45 feet. Fully rented triplex (on a separate tax lot 04100) completely remodeled @ 3 years ago - electrical, plumbing, and interior finishes ''like new'' sold together with a 2bd 1 bath home (w/new electrical panel) on a large .023 acre commercially zoned ocean view parcel. Sold together as one parcel with two tax lots. Room to expand! Motel, bed & breakfast, home business, many possibilities. Build up to 45' for outstanding ocean views. Tenant occupied. Showings coordinated with an advanced notice. Right across the street from the ocean! ZONED COMMERCIAL. GREAT PEDESTRIAN TRAFFIC- CLOSE TO THE POPULAR PRONTO PUP RESTAURANT. OUTSTANDING OCEAN VIEWS WITH VERTICAL DEVELOPMENT. Great cash flow. Sold "as is". Buyer to perform due diligence regarding flood zone and any City hook up fees associated with change of ownership. Showings coordinated with advanced notice. Middle unit in triplex had a minor fire @ 2 years ago which was addressed with a major remodel by the seller with all permitted work.

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$271 USD /SF

# OF UNITS

2

PRICE/UNIT

$362,500

CAP RATE

6.65%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Spencer Shores

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1941

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C-1

APN/PARCEL ID

R0014326

ASK ABOUT THIS PROPERTY

Tim CromanCroman & Assoc. Realty, Inc.More Info
503-355-3036

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Tim CromanCroman & Assoc. Realty, Inc.More Info
503-355-3036

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.