Updated Triplex with Ocean
For Sale
$525,000
675 SE Keel Ave, Lincoln City, OR 97367
Coastal three-unit property with a fenced backyard, mature landscaping, and access to nearby shops and the beach.
Property Size3,090 SF
Price / SF$169.90
Days on Market100
Property Features for 675 SE Keel Ave
General Information
Standard status
Active
Size
3,090 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
woodsy views
partial ocean views
fully fenced backyard
mature landscaping
Building Details
Year Built
1969
Listing Agency:
Keller Williams Capital City
Listed By:
Colleen Benson · License #961200091
(503) 830-9467
Source:
Christiesrealestateevg
Added: Jul 9
Changed: Oct 12
Last Checked: Oct 7 at 4:25PM
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 Keller Williams Capital City
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Investment Insights
Based on property information with market context.
This 3,090-square-foot triplex, built in 1969, includes two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. Each residence has received thoughtful updates, providing a varied unit mix within a single property. A fully enclosed backyard and established landscaping add outdoor space and privacy.
The property is located at 675 SE Keel Ave in Lincoln City, Oregon, in a quiet neighborhood near shops, grocery stores, restaurants, and the post office. The sandy beach is within a short walk. Front-facing woodsy views and partial ocean views from the upper level further define the setting.
The property is located at 675 SE Keel Ave in Lincoln City, Oregon, in a quiet neighborhood near shops, grocery stores, restaurants, and the post office. The sandy beach is within a short walk. Front-facing woodsy views and partial ocean views from the upper level further define the setting.
Key Highlights
- 3,090‑square‑foot triplex at 675 SE Keel Ave, Lincoln City, OR 97367
- Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Built in 1969 with updates in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,799
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,980
$576.0K
Cap Rate 7%
$411,414
$411.4K
Cap Rate 9%
$319,989
$320.0K
Market Conditions
NOI Build-Up for 3,090 SF
Gross rent
$42.6K $13.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$41.1K $13.31/SF
− OpEx
−$12.3K −$3.99/SF
NOI
$28.8K $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%
$575,980
Cap Rate 7%
$411,414
Cap Rate 9%
$319,989
Alternative Uses
Best Use
Multifamily LT 5
$411.4K
$360.0K – $480.0K
NOI $28,799 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$378.8K
$331.4K – $441.9K
NOI $26,513 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$806.0K
$705.2K – $940.3K
NOI $56,418 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
503
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Coastal three-unit property with a fenced backyard, mature landscaping, and access to nearby shops and the beach.
Where is this triplex located?
The property is located at 675 SE Keel Ave Lincoln City, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3,090‑square‑foot triplex at 675 SE Keel Ave, Lincoln City, OR 97367; Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Built in 1969 with updates in each unit
