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Listed by Realty One Group At The Beach
$ 99,500
Est. payment /mo
Price Dropped by $19K
NW 22nd ST #TL5500 Lincoln City, OR 97367
9,583 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 281988644
HOA Y/N No
Annual Tax Amount $1,164
Tax Year 2025
Lot Size 9,583 Sqft
Property Sub-Type Multi Family
Property Description
Site-plan approved 4-plex lot — seller financing available, utilities connected.This 0.22-acre parcel in Lincoln City's Ocean Lake neighborhood is zoned R-M and approved for a 4-plex — a rare shovel-ready position on the central Oregon Coast. Comparable 2-bedroom units in the area rent for $1,800–$2,100/month, putting a fully leased build in the range of roughly $7,200–$8,400/month in gross rental income. (Buyer to verify rents and finalize unit mix.)The groundwork is already done: electricity, public water, and public sewer are connected at the site, and it fronts a paved city street with curbs and sidewalks in place — so you head toward permits instead of burning months and thousands on utility runs.Seller financing available with owner terms — a major advantage on land, where bank financing is hard to come by. Add low carrying costs (just $1,147 in taxes last year), no HOA, no CC&Rs, and no land lease, and the path to breaking ground is clean.Minutes from Highway 101 and the beaches that drive year-round rental demand on the coast. Approved, connected, finance able. Buy to do their own due diligence to confirm information with city for plans.
Location
State OR
County Lincoln
Area _200
Zoning RM
Exterior
Utilities Available SeeRemarks
View Trees Woods
Garage No
Schools
Elementary Schools Oceanlake
Middle Schools Taft
High Schools Taft
Others
Acceptable Financing CallListingAgent, Cash, Conventional
Listing Terms CallListingAgent, Cash, Conventional
