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3456 NE West Devil's Lake Rd
Lincoln City, OR 97367

$4,350,000 USD

Apartments For Sale  •  24,580 SF

Property Details

  • Property Type Apartments
  • Total Building Size 24,580 SF
  • Lot Size 1.27 AC
  • Building Class C
  • Year Built 1964
  • Cap Rate 6.15 %
  • Zoning R-M
20 Transit Score
40 Walk Score

Highlights

Approximately half the units have been upgraded, leaving upside for a new investor to finish repositioning the remaining units
Excellent mix of one-, two-, and three-bedroom units with ample parking
Building upgrades include newer windows, decks, and one roof replacement
Covered parking and garages generate additional income
Common amenities include on-site laundry facilities, green space, and covered parking
Boat slip easement with the neighboring condominium is included

Property Flyers

Cap Rate: 6.15 %

Amenities

  • Courtyard
  • Laundry Facilities
  • Recycling
  • Refrigerator
  • Range
  • Carpet

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 13
Type: Surface
Included in Rent: Yes
Jordan Carter 503-720-8147 Kidder Mathews
Jordan Carter 503-720-8147 Kidder Mathews