Bought with SALTAIRE Coastal Homes
$655,000
$694,000
5.6%For more information regarding the value of a property, please contact us for a free consultation.
3,453 SqFt
SOLD DATE : 01/31/2025
Key Details
Sold Price $655,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,453 sqft
Price per Sqft $189
MLS Listing ID 24216868
Sold Date 01/31/25
Year Built 1941
Annual Tax Amount $5,023
Tax Year 2024
Lot Size 10,018 Sqft
Property Description
Great Investment Opportunity in Seaside! This 1941 4 plex has recent updates and so many opportunities for income. Rentable spaces at market rate could generate over $90k annual gross income and a cap rate approaching 10%. Spacious grounds provide adequate parking that can be accessed from 4th avenue as well as a rear alleyway. 3 of the 4 units are 2 bed, one bath, with the 4th being a 1 bed, one bath. A fifth 2 bed, one bath, economy kitchenette could be incorporated into one of the upstairs units. The building and property are clean and easy to maintain.
Location
State OR
County Clatsop
Area _185
Zoning R2
Rooms
Basement Dirt Floor, Exterior Entry, Storage Space
Interior
Heating Hot Water, Wall Heater
Exterior
Garage Spaces 4.0
Roof Type Composition
Garage No
Building
Lot Description Level
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 3
Schools
Elementary Schools Pacific Ridge
Middle Schools Seaside
High Schools Seaside
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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