Two-Unit Ranch
For Sale
$379,950
1035 & 1037 SW 15th Street, Lincoln City, OR 97367
Residential Income, Lincoln City, OR
Property Size1,840 SF
Lot Size0.29 Acres
Price / SF$206.49
Days on Market250
Property Features for 1035 & 1037 SW 15th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R1-7.5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3
Parking
6
Parking features
Garage - Detached, Driveway
Lot features
Level
Elementary school district
Lincoln County School District
Middle school district
Lincoln County School District
High school district
Lincoln County School District
Directions
From Hwy 101; West on SW 14th St; Left on SW Harbor Ave; Right on SW 15th St to address on right.
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
Buildings
1
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Amy Graham · License #200310128
(541) 992-1050
Added: Feb 27
Changed: Oct 28
Last Checked: Nov 3 at 3:06PM
MLS# 26-416
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.
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Investment Insights
Based on property information with market context.
This 1948 ranch-style duplex contains two residences, each with two bedrooms and one bathroom. The property totals 1,840 square feet on a 0.29-acre lot. Lap siding and a composition roof complement the building’s wall-furnace heating. A detached garage and driveway provide on-site parking, and both public water and public sewer serve the property. Cable is available. The duplex is currently vacant.
At 1035 and 1037 SW 15th Street in Lincoln City, the property is near beach access, grocery shopping, an outlet mall, and a library. The zoning is R1-7.5.
At 1035 and 1037 SW 15th Street in Lincoln City, the property is near beach access, grocery shopping, an outlet mall, and a library. The zoning is R1-7.5.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,840 square feet of building area on a 0.29‑acre lot
- Built in 1948; ranch‑style design
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,149
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,980
$343.0K
Cap Rate 7%
$244,986
$245.0K
Cap Rate 9%
$190,544
$190.5K
Market Conditions
NOI Build-Up for 1,840 SF
Gross rent
$25.4K $13.80/SF
− Vacancy
−$894 −$0.49/SF
EGI
$24.5K $13.31/SF
− OpEx
−$7.3K −$3.99/SF
NOI
$17.1K $9.32/SF
Area
Lincoln County, OR
Vacancy
3.52%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,980
Cap Rate 7%
$244,986
Cap Rate 9%
$190,544
Alternative Uses
Best Use
Multifamily LT 5
$245.0K
$214.4K – $285.8K
NOI $17,149 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$225.5K
$197.4K – $263.1K
NOI $15,788 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,595 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
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Business Placement
Demographics for 97367, OR
11,095
Population
8,138
Households
1.4
Avg Household Size
53
Median Age
29%
College-Educated
91%
High-School Grad
45.7 sq mi
ZIP Area
243
Density / Sq Mi
$58,845
Median Household Income
$37,370
Median Earnings
$1,333
Median Rent
$388,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant and have two-bedroom layouts, with public water and sewer service.
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 $379,950.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,840 square feet of building area on a 0.29‑acre lot; Built in 1948; ranch‑style design
