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259 S Pacific St 3,587 SF Specialty Building Offered at $2,100,000 in Rockaway Beach, OR 97136
INVESTMENT HIGHLIGHTS
- Oceant front property with successful transferrable Short Term Rental License
- Potential Development Opportunity - Up to 12 Condos
EXECUTIVE SUMMARY
A stone’s throw away from the beach, this rare oceanfront gem in the peaceful coastal town of Rockaway Beach offers the perfect opportunity for both investment opportunity and family retreat. Zoned for commercial use and selling fully furnished, the property is currently operating as a 5 year successful and transferable Airbnb with four income-generating units across one expansive lot. At the heart of the property is a large single family home with 6 bedrooms and 5 bathrooms that can serve as one grand coastal home or be divided into two separate units—ideal for multi-generational living or maximizing short-term rental income. Adjacent to the main home is a charming duplex, each side featuring its own private 1-bedroom, 1-bathroom layout. The property had major updates, over $200K, to bathrooms, systems and appliances in 2020, and also added a stunning sunroom with 180 degree oceanfront views—a show-stopping space for guests or owners to relax and unwind. An oversized garage adds incredible value, with ample room for a workshop, extra storage, or even the potential to convert into an additional rental unit. And with its commercial zoning, the property presents development possibilities—potentially accommodating 6 to 12 condominium units. Whether you're seeking a high-performing short-term rental portfolio, a multi-family coastal escape, or a development-ready investment, 259 S Pacific St is a rare chance to own prime oceanfront real estate in one of Oregon’s most laid-back beach communities. Don’t miss this unique opportunity
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,100,000 | Lot Size | 0.55 AC |
| Price Per SF | $585.45 | Building Size | 3,587 SF |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Specialty | Year Built/Renovated | 1945/2020 |
| Property Subtype | Residential Income | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | C-1 - See Zoning Ordinances - Page 21 - Development Opportunity | ||
| Price | $2,100,000 |
| Price Per SF | $585.45 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 3,587 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1945/2020 |
| Opportunity Zone |
Yes |
| Zoning | C-1 - See Zoning Ordinances - Page 21 - Development Opportunity |
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259 S Pacific St
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