Lincoln City Duplex Investment
1035 & 1037 SW 15th Street Lincoln City, OR 97367
1035 & 1037 SW 15th Street, Lincoln City, OR, 97367
$425,000
For Sale
$425,000
MULTI_FAMILY - Ranch - Lincoln City, OR
Property Size1,840 SF
Lot Size0.29 Acres
Price / SF$230.98
Days on Market140
Property Features for 1035 & 1037 SW 15th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- R1-7.5
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2
- Parking
- 6
- Parking features
- Driveway, Garage - Detached
- Standard status
- Active
- APN
- R377606
- Size
- 1,840 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3526
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Wall Furnace
- Water source
- Public
Building Details
- Year built
- 1948
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Lap Siding
- Roof type
- Composition
- Architectural style
- Ranch
Listing Agency
Taylor & Taylor Realty Company
(800) 462-0197
3891 NW Hwy 101, Lincoln City, OR
Listed by
Amy Graham · License #200310128
(541) 992-1050
Added: Feb 27 Checked: Jul 17 at 7:06 am
MLS# 26-416
Listing URL
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Lincoln City duplex presents an investment opportunity, allowing the owner to occupy one unit and rent out the other, or rent out both. Each of the two units features 2 bedrooms and 1 bath within its 920 square feet, totaling 1840 square feet for the entire property. Situated in a desirable southwest Lincoln City location, the property is centrally located with convenient access to the beach, grocery stores, an outlet mall, and the library. The lot size is 0.29 acres. The zoning is R1-7.5. The property is now vacant and easy to show. An additional opportunity exists as the neighboring bare lot is also for sale, presenting the option to build another duplex or save for future investment. Buyers should verify details with the Lincoln City planning department.
Key Highlights
- Lincoln City duplex with 2 units, each with 2 bedrooms and 1 bathroom
- Each unit includes 920 sq ft
- Vacant duplex and easy to show
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.4k | $13.80 |
| − Vacancy | −$894 | −$0.49 |
| EGI | $24.5k | $13.31 |
| − OpEx | −$7.3k | −$3.99 |
| NOI | $17.1k | $9.32 |
1,840 SF · lease $13.80/SF/yr · vacancy 3.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$245.0K
$214.4K – $285.8K
NOI $17,149 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$225.5K
$197.4K – $263.1K
NOI $15,788 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,595 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Lincoln City duplex with two units, great location, vacant.
Where is this duplex located?
The property is located at 1035 & 1037 SW 15th Street Lincoln City, OR.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Lincoln City duplex with 2 units, each with 2 bedrooms and 1 bathroom; Each unit includes 920 sq ft; Vacant duplex and easy to show
