2214 5th St - Apartments FOR SALE


Tillamook, OR 97141
$799,999 USD
503-451-0745
2214 5th St, Tillamook, OR for Sale
$799,999 USD
Apartments - FOR SALE
1/31
null | 12.06% Cap Rate

2214 5th St
Tillamook, OR 97141


HIGHLIGHTS

  • 13-unit apartment property in one of Oregon’s recognizable coastal communities
  • Pro forma shows NOI increasing from $58,402 to $70,083 as occupancy improves
  • 2025 gross rental income of $109,092 with 2025 NOI of $70,788
  • One- and two-bedroom units support a broad tenant base

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$799,999 USD

PRICE/SF

$70 USD /SF

# OF UNITS

13

PRICE/UNIT

$61,538

CAP RATE

12.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2214 5th Street, Tillamook, OR 97141

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1935

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

TM-C-C

APN/PARCEL ID

R0107119

ASK ABOUT THIS PROPERTY

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503-451-0745

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Cameron SchwabKW CommercialMore Info
503-451-0745

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.