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    1110/1120 Meadow Ave Tillamook, OR 97141

    Sponsored
    For Sale
    $1,250,000

    MULTI_FAMILY - Tillamook, OR

    Property size:
    8,198 SF
    Lot size:
    1.13 Acres
    Days on Market:
    137
    Last Refresh:
    Feb 20 at 1:06 am

    Property Features for 1110/1120 Meadow Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    TMR7.5
    Rooms
    Bathroom 6, Bathroom 3, Bedroom 14, Bathroom 4, Bedroom 8, Bedroom 1, Bedroom 10, Bedroom 5, Bedroom 4, Bathroom 5, Bedroom 6, Bathroom 7, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 11, Bedroom 17, Bedroom 15, Bedroom 12, Bedroom 9, Bedroom 7, Bedroom 16, Bathroom 8, Bathroom 9, Bedroom 13, Bedroom 2
    Bedrooms
    17
    APN
    106334
    Size
    8,198 SF
    Lot size
    1.13 Acres

    Utilities

    Heating system
    Baseboard

    Building Details

    Year built
    1972
    Floors in Building
    2
    Number of units
    2
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Dustin Trost

    Rob Trost Real Estate LLC (503) 842-9090

    Listing agent Dustin Trost (503) 842-9090

    Listing date Oct 7, 2025

    MLS# 218336059

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Tillamook Multifamily Investment Opportunity

    This rare investment opportunity features two well-maintained fourplexes situated on adjacent tax lots, totaling 1.13 acres. The properties are being sold together as a package. Fully occupied with long-term tenants, there is potential for increased rental income as current rents are below market value. Each unit is separately metered and connected to public water and sewer services. The location, at the end of the road and backing East Elementary, provides privacy and a wooded setting. The property includes seven one-level units with two bedrooms and one bathroom each, along with one larger unit featuring three bedrooms and two bathrooms, with two bedrooms and one bathroom on the main level and a primary suite with a deck upstairs. Additional features include a detached 1,153 square foot three-bay shop and paved parking. The buildings have solid roofs, siding, paint, and vinyl windows. Ample parking is available. The property has a history of consistent and reliable income and strong rental demand, presenting a solid investment with upside potential. The total property size is 8,198 square feet and is located in Tillamook, Oregon.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Building Supply Auto Repair Shop Big Box & Wholesale Store Daycare Center HVAC Service Food Market Discount Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tillamook
    County
    Tillamook
    State
    Oregon
    Longitude
    -123.818324
    Latitude
    45.451464

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    FAQs

    What type of property is this?
    Quadplex - Two well-maintained 4-plexes on 1.13 acres, fully occupied.
    Where is this quadplex located?
    The property is located at 1110/1120 Meadow Ave Tillamook, OR.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Rare investment opportunity: Two well-maintained 4-plexes on adjacent lots, sold as a package.; - Fully occupied with long-term tenants, providing consistent and reliable income.; - Significant upside potential due to below-market rents.
    (503) 842-9090
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    1110/1120 Meadow Ave Tillamook, OR 97141
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    Tillamook, OR 97141
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1110/1120 Meadow Ave Tillamook, OR 97141
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    We can help!
    Listing Contact
    Dustin Trost
    Real Estate License ID: 200602344
    (503) 842-9090 (503) 801-2326
    Learn more
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