105 S 6TH AVERockawayBeach, OR97136

$1,650,000
21 total units
$252,945 annual income
Capitilization Rate: 7.44
3205 sq. ft
SqFt5000to6999
Elementary School: Garibaldi
Middle School: Neah-Kah-Nie
High School: Neah-Kah-Nie
Zoning: RK-R-R
322 days on market

VestorFilter™

Price per unit$78.6K/unit
Price per ft²$514.82/ft²
Time on market322 days

Property Description

If you're an investor looking for a lucrative opportunity on the Oregon coast, the Blue Octopus Beach Cottages are a perfect choice. The property is a successful 6-unit, beautifully updated and stylishly curated beach motel that is literally a turnkey business opportunity just steps from one of most breathtaking stretches of Oregon coast, just 90 minutes from Portland. The previous owners were experienced designers and entrepreneurs who took this lovely property to the next level, restoring and updating each cottage's interior and turning this charming property into a thriving, revenue-generating vacation rental business positioned prominently on Airbnb and VRBO with consistently high occupancy rates and return guests throughout the year. The cottages come fully furnished, newly painted and well maintained. The talented and dedicated staff of the Blue Octopus motel, including a phenomenal manager and housekeeping team have a keen interest in staying on with the new owners making this a turn key opportunity in the truest sense of the term. Supplement your income, now or in retirement, with this amazing property.Exterior has been newly painted in blue color. New exterior photos will be updated on 6/29.Website: https://www.airbnb.com/users/272806242/listings

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Financial Data

Date Sold2023-08-22
Sold Price$1,550,000
Original Price$1,650,000
Current Price$1,650,000
Property Taxes$3,411

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Home Facts

StatusSold
Year Built1922
Exterior Features
MLS ID23082497

Unit Details

Unit 1
Unit 2
Unit 3
Unit 4
Unit 5
Unit 6