Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    259 S PACIFIC St Rockaway Beach, OR 97136

    View on Map
    Claim this Listing
    For Sale
    $1,850,000

    MULTI_FAMILY - RockawayBeach, OR

    Lot size:
    0.55 Acres
    Added:
    May 13, 2025
    Days on Market:
    345
    Last Refresh:
    Apr 22 at 6:06 am

    Property Features for 259 S PACIFIC St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C1
    Bedrooms
    8
    Bathrooms
    7
    Rooms
    Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bathroom 5, Bathroom 6, Bedroom 6, Bedroom 8, Bedroom 7, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 7
    Standard status
    Active
    APN
    49398
    Lot size
    0.55 Acres

    Taxes and HOA fees

    Tax Description
    Corner of Lot 16, Block 55, Rockaway Beach Subdivision, situated in the Southwest quarter of Section 32
    Tax Annual Amount
    9395

    Utilities

    Heating system
    Forced Air, Baseboard
    Cooling system
    Central Air
    Water front features
    Ocean Front
    Water front
    1

    Building Details

    Year built
    1945
    Floors in Building
    2
    Number of units
    4
    Roof type
    Flat, Composition

    We can help!

    Listing Contact
    Ryan Purdy

    Listing agent Ryan Purdy License #201234218

    Listing office Real Broker 2175 NW Raleigh Street, ste 110, Portland, OR

    Listing date May 13, 2025

    MLS# 202794385 Listing URL

    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.

    Overview

    Oceanfront Multifamily Investment Opportunity

    This oceanfront property in Rockaway Beach features a single-family home with 3 bedrooms and 3 baths, along with an attached Accessory Dwelling Unit (ADU) that has 3 bedrooms and 2 baths and a transferable short-term rental license. Adjacent to the main home is a duplex, with each unit offering a private 1-bedroom, 1-bathroom layout. The property benefits from updates completed in 2020, including renovations to the bathrooms, systems, and appliances. A new roof is planned for the duplex in 2025. A sunroom with 180-degree oceanfront views has been added. An oversized garage provides space for a workshop, storage, or potential conversion into an additional rental unit. The property is zoned C1, presenting development possibilities that could accommodate 6 to 12 condominium units. Situated on a 0.55-acre lot, this property offers an investment opportunity, a multi-family coastal escape, or a development-ready investment in a beach community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Kitchen & Bath Showroom Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockaway Beach
    County
    Tillamook
    State
    Oregon
    Longitude
    -123.9453984
    Latitude
    45.6104397

    Nearby Similar for Sale

    • $1,750,000
      3,205 SF

      Profitable Boutique Hotel in Rockaway

      Charming 6-unit hotel with ocean views and beach access.
      105 S 6TH Ave, RockawayBeach, OR 97136
      View Details
    • $600,000
      1,026 SF

      Beachfront Duplex in Rockaway Beach

      Rare beachfront duplex with income potential in Rockaway Beach.
      269 S Pacific Street, Rockaway Beach, OR 97136
      View Details
    • $399,950
      2,312 SF

      Coastal Live/Work Mixed-Use Property

      Mixed-use property with storefront, office, and residential suite.
      460 HIGHWAY 101, RockawayBeach, OR 97136
      View Details
    • $1,129,000
      3,276 SF

      Stunning Duplex Next to Lake Marie

      Short-term rental approved duplex near the ocean and Lake Marie.
      42 Washington St, RockawayBeach, OR 97136
      View Details
    • $389,000
      2,496 SF

      Flexible Retail/Office Near Ocean

      Adaptable commercial space near the ocean with work-live potential.
      316 N HIGHWAY 101, RockawayBeach, OR 97136
      View Details
    • $925,000
      3,076 SF

      Coastal Duplex with Rental Permits

      Versatile duplex near the beach with short-term rental permits.
      107/109 NW 22ND Ave, RockawayBeach, OR 97136
      View Details
    • $1,400,000
      4,305 SF

      Updated Coastal Hotel Near Beach

      Updated 7-unit hotel across from beach access in Rockaway.
      432 Hwy 101 S, Rockaway Beach, OR 97136
      View Details
    • $2,195,000
      4,755 SF

      Coastal Live-Work Property For Sale

      Live-work property with retail, rental, and business income streams.
      101 S MILLER, RockawayBeach, OR 97136
      View Details
    • $1,850,000
      3,205 SF

      Rockaway Beach Commercial Opportunity

      Commercial property in Rockaway Beach, Oregon, totaling 3,205 square feet.
      105 S 6th Avenue, Rockaway Beach, OR 97136
      View Details
    • $950,000
      3,076 SF

      Beach Proximity Duplex Investment

      Nearly new duplex near the beach with short-term rental permits.
      107/109 NW 22nd Avenue, Rockaway Beach, OR 97136
      View Details
    • $950,000
      1,950 SF

      Rockaway Beach Retail/Restaurant Opportunity

      1950 SF building in prime Rockaway Beach location.
      165 S Miller St, Rockaway Beach, OR
      View Details
    • $490,000
      2,294 SF

      Rockaway Beach Pizza Restaurant Opportunity

      Pizza restaurant in Rockaway Beach near the scenic coast.
      342 HIGHWAY 101, RockawayBeach, OR 97136
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Rare oceanfront multifamily property with development potential in Rockaway Beach.
    Where is this multifamily property located?
    The property is located at 259 S PACIFIC St Rockaway Beach, OR.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Rare oceanfront property in Rockaway Beach with development potential.; Main house features 3 bedrooms/3 baths, plus attached ADU with transferable short‑term rental license and 3 bedrooms/2 baths.; Additional income potential from charming duplex with two 1‑bedroom/1‑bathroom units.
    (503) 481-0147
    We can help!
    Listing Contact
    Ryan Purdy
    Real Estate License ID: 201234218
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!