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Listed by Taylor & Taylor Realty Co. • 541-994-9111
$499,000
Est. payment /mo
1.03 Acres Lot
New
1500 1600 Blk NE Oar Ave Lincoln City, OR 97367
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Raymond Townsite
MLS Listing ID 576406118
Annual Tax Amount $3,934
Tax Year 2024
Lot Size 1.030 Acres
Property Sub-Type Multi Family
Property Description
Over 1 acre of vacant land comprised of 8 tax lots zoned RM (Residential Multi-Family), located in the 1600 block between NE 15th and NE 16th Streets, just east of NE Oar. Priced at 11 per square foot, this is a great opportunity for developers or investors looking to build multi-family housing. Preliminary concept drawings suggest the potential for an 18+ unit multi-family development with City approval. Possible ocean views from upper levels. Buyer to perform due diligence with the City of Lincoln City regarding allowable uses, zoning requirements, and potential density. Coordination with Public Works will be necessary for water and sewer service. Note: Septic easement on 7-11-10DA TL 8202 benefits 7-11-10DA TL 8703 until connection to sewer is completed.
Location
State OR
County Lincoln
Area _200
Zoning RM
Exterior
Utilities Available CableAvailable, SeeRemarks
View Territorial
Garage No
Building
Lot Description Brush, Trees
Schools
Elementary Schools Oceanlake
Middle Schools Taft
High Schools Taft
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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