Lincoln City, OR 97367,2701 NW Hwy 101
Lincoln City, OR 97367,2701 NW Hwy 101
Lincoln City, OR 97367,2701 NW Hwy 101
Listed by Joseph Bernard LLC
Bought with Joseph Bernard LLC
$4,250,000
Est. payment /mo
$4,400,000
3.4%
Est.Price: ?

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44,716 SqFt
SOLD DATE : 04/21/2020

Key Details

Sold Price $4,250,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 44,716 sqft

Price per Sqft $95

MLS Listing ID 19291474

Sold Date 04/21/20

Year Built 1929

Annual Tax Amount $36,758

Tax Year 2018

Property Description

The Dorchester House is a turnkey apt building perfectly located in Lincoln City. Property has 69 units, plus large office. This market deal has 2 rental restrictions: tenants must be 58 and older, and 20% of units must be rented to tenants that make 50% of median income. Has library, commercial kitchen, parking, laundry and private courtyard with beautiful grounds with in place on-site management. Value-add potential to add 70th unit.

Location

State OR

County Lincoln

Community Commons, Laundry

Area _200

Zoning G-C

Interior

Heating Wall Furnace

Exterior

Garage Spaces 55.0

Community Features Commons, Laundry

View Y/N false

Roof Type Composition

Parking Type Attached, Paved

Garage No

Building

Story 3

Sewer Public Sewer

Water Public Water

Level or Stories 3

Others

Acceptable Financing Conventional

Listing Terms Conventional

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Cassandra Marks

+1(503) 884-2387

Realtor, Licensed in OR & WA | License ID: 201225764

Realtor, Licensed in OR & WA License ID: 201225764

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