Ocean-View Triplex with Attached
529 531 537 SW 32nd Street Lincoln City, OR 97367
529 531 537 SW 32nd Street, Lincoln City, OR, 97367
$749,000
For Sale
$749,000
MULTI_FAMILY - Split Level - Lincoln City, OR
Property Size2,738 SF
Lot Size0.12 Acres
Price / SF$273.56
Days on Market61
Property Features for 529 531 537 SW 32nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NP - Nelscott Plan Distri
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2
- Parking
- 4
- Parking features
- Driveway, Open, On Street
- Window features
- Vinyl Frames, Window Treatments
- Patio and Porch features
- Deck
- Exterior features
- Private Yard
- Fireplace
- 1
- Appliances
- Dryer, Disposal, Dishwasher, Electric Cooktop, Electric Oven, Refrigerator, Washer
- Standard status
- Active
- APN
- 071122CD
- Size
- 2,738 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 4973
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Wall Furnace, Forced Air
- Water source
- Public
Building Details
- Year built
- 1931
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Vinyl, Carpet
- Building materials
- Vinyl Siding
- Roof type
- Composition
- Architectural style
- Split Level
Listing Agency
Taylor & Taylor Realty Company
(800) 462-0197
3891 NW Hwy 101, Lincoln City, OR
Listed by
Dennis M Regen · License #810604051
(541) 994-4169
Added: May 18 Checked: Jul 17 at 6:06 am
MLS# 26-1345
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 split-level triplex is configured with three separate units across three levels. The ground level unit has 2 bedrooms and 1 bathroom, while the middle level unit offers 1 bedroom and 1 bathroom. The upper level unit also provides 1 bedroom and 1 bathroom, and the second and third floor units have ocean views. The property includes an attached two-stall garage and sits on two tax lots.
The home is located in Lincoln City’s Nelscott area near beach access and close to shopping, dining, and other local amenities. The property is zoned NP - Nelscott Plan Distri, supporting residential income use. Addressed as 529, 531, and 537 SW 32nd Street, it is offered as a for-sale investment opportunity.
Recent remodeling improvements are described by the owner, including outside landscaping, new kitchen appliances, fresh paint, new flooring, updated lighting, window coverings, and bathroom remodels across the triplex. With a clear three-unit setup and finished living spaces on each level, the property suits buyers looking to own a maintained residential income asset with built-in separation and ocean-view units in the upper floors.
The home is located in Lincoln City’s Nelscott area near beach access and close to shopping, dining, and other local amenities. The property is zoned NP - Nelscott Plan Distri, supporting residential income use. Addressed as 529, 531, and 537 SW 32nd Street, it is offered as a for-sale investment opportunity.
Recent remodeling improvements are described by the owner, including outside landscaping, new kitchen appliances, fresh paint, new flooring, updated lighting, window coverings, and bathroom remodels across the triplex. With a clear three-unit setup and finished living spaces on each level, the property suits buyers looking to own a maintained residential income asset with built-in separation and ocean-view units in the upper floors.
Key Highlights
- Split‑level triplex built in 1931 with three separate units across three levels
- Unit mix: ground level 2BR/1BA, middle level 1BR/1BA, and upper level 1BR/1BA
- Second and third floor units have ocean views
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 | $37.8k | $13.80 |
| − Vacancy | −$1.3k | −$0.49 |
| EGI | $36.5k | $13.31 |
| − OpEx | −$10.9k | −$3.99 |
| NOI | $25.5k | $9.32 |
2,738 SF · lease $13.80/SF/yr · vacancy 3.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$364.5K
$319.0K – $425.3K
NOI $25,518 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$335.6K
$293.7K – $391.6K
NOI $23,493 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$714.2K
$624.9K – $833.2K
NOI $49,991 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Triplex with three separate levels, ocean views from upper units, and an attached two-stall garage in Lincoln City.
Where is this triplex located?
The property is located at 529 531 537 SW 32nd Street Lincoln City, OR.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Split‑level triplex built in 1931 with three separate units across three levels; Unit mix: ground level 2BR/1BA, middle level 1BR/1BA, and upper level 1BR/1BA; Second and third floor units have ocean views
