2214 5th Street, Tillamook, OR 97141 2214 5th St 13 Unit Apartment Building $799,999 ($61,538/Unit) 12.06% Cap Rate Tillamook, OR 97141

Introducing a rare multifamily investment opportunity in the heart of Downtown Tillamook. This 13-unit apartment property consists of two buildings situated on approximately 0.25 acres and offers a desirable mix of one- and two-bedroom units. Located within walking distance of downtown employers, shopping, dining, and services, the property benefits from strong renter demand and convenient access to major thoroughfares throughout Tillamook County.
Built in 1935 and spanning approximately 11,444 square feet, the asset features an efficient unit mix of nine 1-bedroom units and four 2-bedroom units, with average unit sizes of approximately 594 square feet. The property's downtown location provides tenants with easy access to employment centers, retail amenities, and coastal recreation destinations that make Tillamook a year-round draw for residents and visitors alike.
Positioned near Pacific Avenue, Nestucca Avenue, and other primary traffic corridors carrying over 5,000 vehicles per day, the property enjoys excellent connectivity and visibility within the market. The surrounding area includes a balanced mix of renter- and owner-occupied households, supporting long-term multifamily demand.
This offering presents investors with the opportunity to acquire a stabilized coastal Oregon multifamily asset with in-place cash flow, an attractive unit mix, and a strategic downtown location in one of the state's most recognizable coastal communities.