Lincoln City Duplex
1035 & 1037 SW 15th Street Lincoln City, OR 97367
For Sale
$415,000
Two vacant duplex units with two bedrooms and one bath each, offering rental income or owner-occupancy flexibility.
Property Size1,840 SF
Price / SF$225.54
Days on Market96
Property Features for 1035 & 1037 SW 15th Street
General Information
- Standard status
- Active
- Size
- 1,840 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1948
Listing Agency:
Taylor & Taylor Realty Company
(541) 992-1050
Listed By:
Amy Graham · License #200310128
(541) 992-1050
Source:
Martekrealestate
Added: Apr 21
Changed: Jul 22
Last Checked: Jul 25 at 2:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Taylor & Taylor Realty Company
Investment Insights
Based on property information with market context.
This Lincoln City duplex includes two units at 1035 and 1037 SW 15th Street, with each unit featuring 2 bedrooms and 1 bathroom. The property is currently vacant and is presented as easy to show for qualified buyers.
The duplex is located in southwest Lincoln City, with access to everyday amenities including grocery options, an outlet mall, and a library. The public remarks also note nearby beach access.
As an additional opportunity, a neighboring bare lot is listed for sale as well. The buyer would need to verify development options with the planning department of Lincoln City.
The duplex is located in southwest Lincoln City, with access to everyday amenities including grocery options, an outlet mall, and a library. The public remarks also note nearby beach access.
As an additional opportunity, a neighboring bare lot is listed for sale as well. The buyer would need to verify development options with the planning department of Lincoln City.
Key Highlights
- Lincoln City duplex built in 1948 with two vacant units for easy showing
- Each unit has 2 bedrooms and 1 bath
- Each unit includes 920 sq ft
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 4.13%
Second Best
Apartment 5plus
$225.5K
$197.4K – $263.1K
NOI $15,788 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,595 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two vacant duplex units with two bedrooms and one bath each, offering rental income or owner-occupancy flexibility.
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 $415,000.
What are key features of this property?
This property features: Lincoln City duplex built in 1948 with two vacant units for easy showing; Each unit has 2 bedrooms and 1 bath; Each unit includes 920 sq ft
