Two-Cottage
For Sale
$300,000
Pending
821 S Columbia St, Seaside, OR 97138
Two separate cottages offer varied layouts, with beach access two blocks away and downtown Seaside three blocks away.
Property Size1,200 SF
Days on Market49
Property Features for 821 S Columbia St
General Information
Standard status
Pending
Size
1,200 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1928
Buildings
2
Listing Agency:
SALTAIRE Coastal Homes
Listed By:
Christy Coulombe
(503) 724-2400
Source:
Portlandoregonhomelistings
Added: Sep 2
Changed: Oct 10
Last Checked: Oct 19 at 6:43AM
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 SALTAIRE Coastal Homes
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Investment Insights
Based on property information with market context.
This duplex consists of two separate cottages with distinct layouts. The front cottage is two stories, with bedrooms located upstairs, while the rear cottage provides single-level living. Both cottages are currently unoccupied and are being offered as-is through an estate, with no seller representations concerning the condition of the buildings or their systems. Buyer due diligence is encouraged.
Located at 821 S Columbia St in Seaside, the property is two blocks from the beach and three blocks from downtown Seaside. Built in 1928, the duplex offers an established coastal setting with two separate structures and differing residential configurations.
Located at 821 S Columbia St in Seaside, the property is two blocks from the beach and three blocks from downtown Seaside. Built in 1928, the duplex offers an established coastal setting with two separate structures and differing residential configurations.
Key Highlights
- Two separate cottages comprise the duplex
- Front cottage is two stories with upstairs bedrooms
- Rear cottage offers single‑level living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,619
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$172,380
$172.4K
Cap Rate 7%
$123,129
$123.1K
Cap Rate 9%
$95,767
$95.8K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$16.6K $13.80/SF
− Vacancy
−$4.2K −$3.54/SF
EGI
$12.3K $10.26/SF
− OpEx
−$3.7K −$3.08/SF
NOI
$8.6K $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%
$172,380
Cap Rate 7%
$123,129
Cap Rate 9%
$95,767
Alternative Uses
Best Use
Multifamily LT 5
$123.1K
$107.7K – $143.7K
NOI $8,619 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$111.5K
$97.6K – $130.1K
NOI $7,805 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$348.9K
$305.3K – $407.0K
NOI $24,422 @ 7.0% cap · market cap 8.14%
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
794
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate cottages offer varied layouts, with beach access two blocks away and downtown Seaside three blocks away.
Where is this duplex located?
The property is located at 821 S Columbia St Seaside, OR.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two separate cottages comprise the duplex; Front cottage is two stories with upstairs bedrooms; Rear cottage offers single‑level living
