2701 NW Hwy 101

    Lincoln City, OR 97367
    • $4,400,000
    • STATUS: Active
    • ON SITE: 91 days
    • MLS #: 19291474
    UPDATED: 9 min ago
    $4,400,000
    • 3
      BEDS
    • N/A
      ACRES
    • 3
      BATHS
    • 0
      1/2 BATHS
    • 44,716
      SQFT
    • $98
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:

    School Ratings & Info

    Description

    The Dorchester House is a turnkey apt building perfectly located in Lincoln City. Property has 69 units, plus large office. This market deal has 2 rental restrictions: tenants must be 58 and older, and 20% of units must be rented to tenants that make 50% of median income. Has library, commercial kitchen, parking, laundry and private courtyard with beautiful grounds with in place on-site management. Value-add potential to add 70th unit.

    Monthly Payment Calculator

    The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Brantley Christianson Real Estate are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2019 RMLS™, Portland, Oregon. Data last updated 2019-10-17T21:59:21.963.Data deemed reliable but not guaranteed.

    Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed accurate by RMLS™ or Brantley Christianson Real Estate and should be independently verified.
    nw.brantleychristianson.com/homes/96972902

    2701 NW Hwy 101 Lincoln City, OR 97367

    • Price: $4,400,000
    • Status: Active
    • Updated: 9 min ago
    • MLS #: 19291474
    3
    Beds
    3
    Baths
    0
    ½ Baths
    N/A
    Acres
    44,716
    SQFT
    $98
    $/SQFT
    1929
    Built
    Neighborhood:
    200-Lincoln County
    County:
    Lincoln
    Area:
    200-Lincoln County
    Property Description
    The Dorchester House is a turnkey apt building perfectly located in Lincoln City. Property has 69 units, plus large office. This market deal has 2 rental restrictions: tenants must be 58 and older, and 20% of units must be rented to tenants that make 50% of median income. Has library, commercial kitchen, parking, laundry and private courtyard with beautiful grounds with in place on-site management. Value-add potential to add 70th unit.
    Exterior Features

    Garage Or Parking Spaces 55 Lot Size 1 To 2.99 Acres Parking Description AttachedPaved Roof Type Composition View YN No Water Description Public

    Interior Features

    Heating Description Wall Furnace Hot Water Description Gas Unit Features RefrigeratorStorage Unit Type1 Features RefrigeratorStorage Unit Type1 Sq Ft 450 Unit Type2 Features RefrigeratorStorage Unit Type2 Sq Ft 540 Unit Type3 Features RefrigeratorStorage Unit Type3 Sq Ft 650

    Property Features

    Bank Owned YN No Capitalization Rate 6.93 Common Amenities CommonsLaundry Country Us Fuel Description Electricity Gross Income Actual 692307 Gross Income Projected 716681 Gross Rent Multiplier 6.36 Net Income Actual 305086 Net Income Projected 337481 Occupancy Types LeasedMonth To Month Operating Expenses Actual 387221 Operating Expenses Projected 379200 Sewer Description Public Sewer Short Sale YN No Storage None Tax Amount 36758.51 Third Party Approval YN No Unit Type1 Rent 795 Unit Type1 Units Total 21 Unit Type2 Rent 887 Unit Type2 Units Total 46 Unit Type3 Rent 997 Unit Type3 Units Total 2 Utilities Included Cable TvElectricityTrash CollectionSewerWaterLandscaping Zoning G-C

    Listing provided courtesy of Joseph Bernard Llc.
    The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Brantley Christianson Real Estate are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2019 RMLS™, Portland, Oregon. Data last updated 2019-10-17T21:59:21.963.Data deemed reliable but not guaranteed.

    Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed accurate by RMLS™ or Brantley Christianson Real Estate and should be independently verified.
     
    Brantley Christianson Real Estate
    2005 SE 192nd Ave
    Camas WA, 98607