Two-Unit Duplex Near Beach
For Sale
$379,950
1035 SW 15th St, Lincoln City, OR 97367
Vacant residential property near grocery, outlet shopping, library, and beach access.
Property Size1,840 SF
Price / SF$206.49
Days on Market78
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 1035 SW 15th St
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1948
Buildings
1
Listing Agency:
Taylor & Taylor Realty Co.
Listed By:
Amy Graham · License #200310128
(541) 994-9111
Source:
Rosecityrealtygroup
Added: Jul 30
Changed: Oct 2
Last Checked: Oct 7 at 1:52PM
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 Co.
Investment Insights
Based on property information with market context.
This 1,840-square-foot duplex contains two separate units, each configured with 2 bedrooms and 1 bath across 920 square feet. Built in 1948, the property is currently vacant, allowing straightforward access for evaluation and planning.
The duplex is located at 1035 SW 15th St in Lincoln City, with nearby beach access, grocery shopping, an outlet mall, and a library. A neighboring bare lot is also offered separately, providing a potential future development consideration subject to verification with the Lincoln City planning department.
The duplex is located at 1035 SW 15th St in Lincoln City, with nearby beach access, grocery shopping, an outlet mall, and a library. A neighboring bare lot is also offered separately, providing a potential future development consideration subject to verification with the Lincoln City planning department.
Key Highlights
- Two‑unit duplex totaling 1,840 square feet
- Each unit offers 2 bedrooms, 1 bath, and 920 sq feet
- Built in 1948
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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant residential property near grocery, outlet shopping, library, and beach access.
Where is this duplex located?
The property is located at 1035 SW 15th St 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‑unit duplex totaling 1,840 square feet; Each unit offers 2 bedrooms, 1 bath, and 920 sq feet; Built in 1948
