Four-Unit Townhome-Style
New
For Sale
$1,500,000
3096 Highway 101 N, Gearhart, OR 97138
Each residence combines private outdoor space with a garage, driveway, and additional on-site parking.
Property Size6,872 SF
Price / SF$218.28
Days on Market3
Property Features for 3096 Highway 101 N
General Information
Standard status
Active
Size
6,872 SF
Property subtype
MultiFamily
Zoning
R2
Taxes and HOA fees
Annual Taxes
$7,577
Amenities
Gas
UnitTypeType1
3
HardwoodFloors,Range,Refrigerator,WasherDryer
1800
4
Level
PublicWater
8.0
0.43
Attached,OffStreet
Paved
ConcretePerimeter
6872.0
CementSiding
Building Details
Building Size
6,872 SF
Year Built
2019
Stories
2
Listing Agency:
Windermere Heritage -
(503) 755-9493
Listed By:
Adriana Focke
Source:
Checkpoint-realty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:05AM
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 Windermere Heritage -
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2019, this R2-zoned quadplex contains four townhome-style residences, each with three bedrooms and two and a half bathrooms. The two-story layouts place an open living area on the first floor and the bedrooms and two full bathrooms upstairs. Interior features include 9-foot ceilings, engineered hardwood flooring, quartz kitchen and bathroom countertops, stainless steel appliances, and a walk-in pantry. Each kitchen island provides seating for three to four people, and each primary suite has an en suite bathroom with a walk-in shower and dual sinks.
Each unit includes a private fenced patio and backyard, a one-car attached garage, a private driveway, and access to additional on-site parking. Stackable washers and dryers are provided. The property is in Gearhart, with the beach, restaurants, shopping, and recreational activities described as nearby.
Each unit includes a private fenced patio and backyard, a one-car attached garage, a private driveway, and access to additional on-site parking. Stackable washers and dryers are provided. The property is in Gearhart, with the beach, restaurants, shopping, and recreational activities described as nearby.
Key Highlights
- Four residences, each with 3 bedrooms and 2‑1/2 bathrooms
- Built in 2019; zoned R2
- Each unit features 9‑foot ceilings, quartz countertops, stainless steel appliances, and engineered hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,356
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,120
$987.1K
Cap Rate 7%
$705,086
$705.1K
Cap Rate 9%
$548,400
$548.4K
Market Conditions
NOI Build-Up for 6,872 SF
Gross rent
$94.8K $13.80/SF
− Vacancy
−$24.3K −$3.54/SF
EGI
$70.5K $10.26/SF
− OpEx
−$21.2K −$3.08/SF
NOI
$49.4K $7.18/SF
Area
Clatsop County, OR
Vacancy
25.65%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,120
Cap Rate 7%
$705,086
Cap Rate 9%
$548,400
Alternative Uses
Best Use
Multifamily LT 5
$705.1K
$617.0K – $822.6K
NOI $49,356 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$638.5K
$558.7K – $745.0K
NOI $44,698 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,859 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence combines private outdoor space with a garage, driveway, and additional on-site parking.
Where is this quadplex located?
The property is located at 3096 Highway 101 N Gearhart, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four residences, each with 3 bedrooms and 2‑1/2 bathrooms; Built in 2019; zoned R2; Each unit features 9‑foot ceilings, quartz countertops, stainless steel appliances, and engineered hardwood flooring
