MLS# 24553702 – 720 2nd St, Brookings, OR 97415 – John Wesley McPherson, Jr., The Portland Team

Listing courtesy of Pacific Coastal Real Estate.

Property Description

Description

4 Units

Status: Active

Year Built: 1975

Days on Website: 36

Welcome to a rare investment opportunity nestled in the picturesque coastal town of Brookings, Oregon. This fourplex presents an ideal chance for investors seeking a property with an excellent rental history and proximity to breathtaking beaches. Situated just moments away from the mesmerizing shoreline, this property offers a unique blend of coastal living and investment potential.Each unit within this well-maintained fourplex features a spacious 2-story layout, comprising 2 bedrooms and 1.1 bathrooms. Residents will appreciate the convenience of a designated carport and a shed, providing ample storage space for their belongings. Whether it's soaking in the sun on the nearby beaches or exploring the charming local amenities, this property offers an unparalleled lifestyle opportunity for tenants.Key Features:Prime Location: Close proximity to many beautiful beaches in BrookingsGreat Rental History: Perfect for investors seeking a lucrative income property2-Story Units: Spacious layout providing comfort and privacy for residentsCarport & Shed: Each unit comes with dedicated parking and additional storageInvestment Potential: Rare opportunity to own a fourplex in this sought-after locationDon't miss out on this exceptional investment opportunity in Brookings. Schedule a showing today to explore the potential of this unique fourplex and secure your stake in coastal real estate.

Property Details and Features

Property Access

Road Surface Type:

Gravel

Basement

Basement:

CrawlSpace

Building

Building Area Total:

4736

Built in 1975

Storage:

IndividualStorageUnits

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Cooling

Cooling:

None

Expenses

Operating Expense:

$21,891

Exterior Features

Exterior Description:

T111Siding

Foundation

Foundation Details:

ConcretePerimeter

Heating

Heating Available

Heating:

Baseboard

Income

CAP Rate:

4.16

Gross Income:

$54,937

Gross Rent Multiplier:

14.47

Net Operating Income:

$33,046

Listing

Contract Status Change Date:

2024-03-26

Days On Market:

Last Transaction Date:

2024-04-01 15:40:32

List Price:

$795,000

Listing Contract Date:

2024-03-26

Listing Id:

24553702

Mls Status:

Active

Modification Timestamp:

2024-04-01 15:40:32

On Market Date:

2024-03-26

Rent Includes:

TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_270

County Or Parish:

Curry

Lot

Features:

Level

Size Acres:

0.31

Size Range:

SqFt10000to14999

Size Square Feet:

13,503

Size:

10,000 to 14,999 SqFt

Parking

Features:

Carport,Open

8 total parking spots

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

Approximately

Zoning:

Roof

Roof:

Composition

Schools

High School:

Brookings-Harbr

Middle Or Junior School:

Azalea

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$3,155

Legal Description

Tax Year:

2023

Unit One

Actual Rent:

$1,075

Area:

1184

Features:

Range,Refrigerator

Units Total:

2 total bathrooms

2 total bedroom

Unit Two

Actual Rent:

$1,270

Area:

1184

Features:

Range,Refrigerator

Units Total:

2 total bathrooms

2 total bedroom

Unit Three

Actual Rent:

$1,550

Area:

1184

Features:

Dishwasher,Range,Refrigerator

Units Total:

2 total bathrooms

2 total bedroom

Unit Four

Actual Rent:

$1,270

Area:

1184

Features:

Dishwasher,Range,Refrigerator

Units Total:

2 total bathrooms

2 total bedroom

Utilities

Fuel Description:

Electricity

Hot Water Description:

Electricity

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$795,000 -

720 2nd St Brookings , OR 97415

MLS Area Major: _270

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on May 1, 2024 1:45PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.