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Property Description

Site-plan approved 4-plex lot -- seller financing available, utilities connected.This 0.22-acre parcel in Lincoln City's Ocean Lake neighborhood is zoned R-M and approved for a 4-plex -- a rare shovel-ready position on the central Oregon Coast. Comparable 2-bedroom units in the area rent for $1,800-$2,100/month, putting a fully leased build in the range of roughly $7,200-$8,400/month in gross rental income. (Buyer to verify rents and finalize unit mix.)The groundwork is already done: electricity, public water, and public sewer are connected at the site, and it fronts a paved city street with curbs and sidewalks in place -- so you head toward permits instead of burning months and thousands on utility runs.Seller financing available with owner terms -- a major advantage on land, where bank financing is hard to come by. Add low carrying costs (just $1,147 in taxes last year), no HOA, no CC&Rs, and no land lease, and the path to breaking ground is clean.Minutes from Highway 101 and the beaches that drive year-round rental demand on the coast. Approved, connected, finance able. Buy to do their own due diligence to confirm information with city for plans.

Overview

Property Status
Pending
Lot Size
9,583 Sq.Ft.
MLS ID
281988644
Property Type
Land

Features & Amenities

Neighborhood
Lincoln City
View Description
Trees Woods
Utilities
See Remarks
Elementary School
Oceanlake
Middle School
Taft
High School
Taft
Sales Price
$99,500
Real Estate Tax
$1,165/yr
Zoning
RM

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NW 22nd ST TL5500

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NW 22nd ST TL5500
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NW 22nd ST TL5500

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  • CallVanessa Corder

    License #201256411

    (541) 678-4220
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