Three-Unit Triplex with Fenced
New
For Sale
$449,000
Pending
950 S Edgewood St, Seaside, OR 97138
Beach-area income property with varied unit layouts, paved parking, and additional storage and flex space.
Property Size2,128 SF
Days on Market7
Property Features for 950 S Edgewood St
General Information
Standard status
Pending
Size
2,128 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
3
Amenities
paved parking area
Building Details
Year Built
1948
Listing Agency:
Realty One Group Prestige
Listed By:
Hilary Herman · License #201214475
(503) 791-4718
Source:
Southwestwahomefinder
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 26 at 7:29AM
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 Realty One Group Prestige
Investment Insights
Based on property information with market context.
Built in 1948, this triplex at 950 S Edgewood St includes three distinct residential units totaling 2,128 square feet. Units A and B each provide an open living and kitchen arrangement with one bedroom and one bathroom; Unit B also has attic access for storage. The larger Unit C includes two bedrooms, two bathrooms, a kitchen and dining area, living room, mudroom/laundry room, and storage room with partial plumbing that may support a third bathroom subject to City approval and permitting. Its partially finished attic adds bonus or flex space, while the remaining attic area provides storage. Unit C also includes a fenced yard and storage shed.
The property has a paved parking area, front fencing with a designated trash and recycling area, and a hose bib. Located in Seaside, Oregon, the complex is a few blocks from the beach and close to local amenities. The property is offered as-is, with current tenants using their own parking arrangement.
The property has a paved parking area, front fencing with a designated trash and recycling area, and a hose bib. Located in Seaside, Oregon, the complex is a few blocks from the beach and close to local amenities. The property is offered as-is, with current tenants using their own parking arrangement.
Key Highlights
- Three‑unit triplex totaling 2,128 square feet
- Unit mix includes two 1‑bedroom/1‑bath units and one 2‑bedroom/2‑bath unit
- Unit C has partially finished attic space plus additional unfinished storage area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,284
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,680
$305.7K
Cap Rate 7%
$218,343
$218.3K
Cap Rate 9%
$169,822
$169.8K
Market Conditions
NOI Build-Up for 2,128 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.4K $13.80/SF
− Vacancy
−$7.5K −$3.54/SF
EGI
$21.8K $10.26/SF
− OpEx
−$6.6K −$3.08/SF
NOI
$15.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$305,680
Cap Rate 7%
$218,343
Cap Rate 9%
$169,822
Alternative Uses
Best Use
Multifamily LT 5
$218.3K
$191.1K – $254.7K
NOI $15,284 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$197.7K
$173.0K – $230.7K
NOI $13,841 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$618.7K
$541.4K – $721.8K
NOI $43,309 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
800
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Beach-area income property with varied unit layouts, paved parking, and additional storage and flex space.
Where is this triplex located?
The property is located at 950 S Edgewood St Seaside, OR.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 2,128 square feet; Unit mix includes two 1‑bedroom/1‑bath units and one 2‑bedroom/2‑bath unit; Unit C has partially finished attic space plus additional unfinished storage area
