Current Use by Public Records
- Apartment buildings
Property Details for 849 1St Ave
- Year built
- 1916
- Property type
- Apartment buildings
Description
This exceptional Seaside, Oregon duplex presents a lucrative investment opportunity. Located just four blocks from the Pacific Ocean Promenade, this property enjoys a prime location near restaurants, shopping, and entertainment. Built in 1916, the duplex comprises two units: a lower unit boasting three bedrooms, one and a half bathrooms, an office, and a bonus room adjacent to the primary bedroom. The lower unit's kitchen features granite countertops and tile, complemented by laminate flooring in the living areas. The upper unit offers two bedrooms and one bathroom, equipped with gas appliances. Adding to the property's appeal is a non-conforming studio apartment situated in the partially finished garage, complete with a private courtyard. Security is enhanced by security cameras installed throughout the property, and off-street parking is provided for tenants. The property's strong financial performance is evident in its $43,200 net operating income (NOI) and a 5.65% capitalization rate. The asking price is $765,000, representing $382,500 per unit. This coastal gem offers a blend of attractive features, strong rental income, and a desirable location, making it an ideal addition to any investment portfolio. The address is 849 1st Ave, Seaside, OR 97138, in Clatsop County.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seaside
- County
- Clatsop
- State
- Oregon
- Longitude
- -123.921
- Latitude
- 45.9943
