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Pacific Court Apartments 542 Pacific Ave 8 Unit Apartment Building $875,000 ($109,375/Unit) 6.31% Cap Rate Brookings, OR 97415
Executive Summary
Merit Commercial Real Estate is pleased to exclusively present Pacific Court Apartments, an 8-unit apartment complex located in the stunning coastal city of Brookings, Oregon (the "Property").
As an extraordinarily rare public market offering of an attainable and well-positioned apartment complex near schools, parks, downtown, and beach access, Pacific Court presents a unique opportunity ideal for local or out-of-state ownership.
Situated on 0.34 acres, the Property features a recently improved ±5,075 SF single-story multifamily apartment complex with a total of two apartment buildings (one roofline; attached via breezeway) , four storage sheds/units and detached garage building with two divided spaces. Individual unit sizes were not measured, floor plan suggests that all apartment units are varying sizes, see OM for more information.
The layout of the Property is functional and highly efficient with a unit mix including (7) 1-bed/1-bath units and 1 studio unit (Unit #2). Units 1-4 are located within "Building 1" and units 5-7 are in "Building 2".
Tenancies are currently mixed, with several long-term stable tenants and some recent turnover; currently at 100% occupancy with reportedly little to no issues ever maintaining 95%+ occupancy.
Expense splits are standard, with the LL providing water, sewer, and garbage, and the tenant(s) covering unit-power, internet, cable, etc.
Pacific Court is located within a quieter mixed residential neighborhood and is in close proximity to various amenities including Brookings-Harbor High School (directly across the street), multiple parks, restaurants and retailers, employers, and several different beach accesses.
The opportunity is clear at Pacific Court for investors seeking day-one yield from a stable and well-maintained asset, and future upside potential from turnover and further improvements.
Buyer is responsible for any and all due diligence. Contact the listing brokers today for additional information.
As an extraordinarily rare public market offering of an attainable and well-positioned apartment complex near schools, parks, downtown, and beach access, Pacific Court presents a unique opportunity ideal for local or out-of-state ownership.
Situated on 0.34 acres, the Property features a recently improved ±5,075 SF single-story multifamily apartment complex with a total of two apartment buildings (one roofline; attached via breezeway) , four storage sheds/units and detached garage building with two divided spaces. Individual unit sizes were not measured, floor plan suggests that all apartment units are varying sizes, see OM for more information.
The layout of the Property is functional and highly efficient with a unit mix including (7) 1-bed/1-bath units and 1 studio unit (Unit #2). Units 1-4 are located within "Building 1" and units 5-7 are in "Building 2".
Tenancies are currently mixed, with several long-term stable tenants and some recent turnover; currently at 100% occupancy with reportedly little to no issues ever maintaining 95%+ occupancy.
Expense splits are standard, with the LL providing water, sewer, and garbage, and the tenant(s) covering unit-power, internet, cable, etc.
Pacific Court is located within a quieter mixed residential neighborhood and is in close proximity to various amenities including Brookings-Harbor High School (directly across the street), multiple parks, restaurants and retailers, employers, and several different beach accesses.
The opportunity is clear at Pacific Court for investors seeking day-one yield from a stable and well-maintained asset, and future upside potential from turnover and further improvements.
Buyer is responsible for any and all due diligence. Contact the listing brokers today for additional information.
Property Facts
| Price | $875,000 | Building Class | C |
| Price Per Unit | $109,375 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 5,075 SF |
| Cap Rate | 6.31% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.97/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - "Multifamily Residential" | ||
| Price | $875,000 |
| Price Per Unit | $109,375 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 5,075 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2025 |
| Parking Ratio | 1.97/1,000 SF |
| Zoning | R-3 - "Multifamily Residential" |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| Studios | 1 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R14746 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $240,010 |
Property Taxes
Parcel Number
R14746
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$240,010
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Pacific Court Apartments | 542 Pacific Ave
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