2149 S Franklin St Seaside, OR 97138
Cartwright Park NeighborhoodEstimated payment $7,409/month
Highlights
- 0.23 Acre Lot
- Level Lot
- 2-minute walk to Cartwright Park
- Laundry Facilities
- Heating System Mounted To A Wall or Window
About This Home
Prime coastal 8-Plex investment opportunity in South Seaside, Oregon. Just four blocks from the beach and steps from a golf course and park, this 8-unit multifamily property offers a rare investment opportunity in South Seaside. Built in 1947, the 11-bed, 8-bath complex consists of five 1-bed/1-bath units and three 2-bed/1-bath units, spanning a total of 4,800 sqft across two buildings on a 10,000 sqft lot (100x100 ft), and includes nine off-street parking spots. This property consistently maintains full occupancy, often receiving hundreds of applicants when a unit becomes available. Located in a desirable neighborhood known for its well-kept homes, this property is just minutes from the Seaside Promenade and four blocks to the popular South Cove surf area. It has undergone major plumbing and electrical updates in 2008/2009, with new windows—10 left to install before closing. Offers an on-site community laundry room. With strong rental demand and the possibility for a conversion to a motel for short-term rental potential, this property offers immediate cash flow and long-term investment versatility. Tours are available for accepted offers only. 1031 exchange, would consider a trade. Don’t miss this high-demand coastal investment opportunity!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,333
Year Built
- Built in 1947
Lot Details
- 10,018 Sq Ft Lot
- Lot Dimensions are 100x100
- Level Lot
Home Design
- 4,800 Sq Ft Home
- Composition Roof
- Shingle Siding
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 7 Bedrooms
- 5 Bathrooms
Parking
- 9 Parking Spaces
- Off-Street Parking
Schools
- Seaside Middle School
Utilities
- No Cooling
- Heating System Mounted To A Wall or Window
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number 13766
Community Details
Building Details
- Operating Expense $29,924
- Gross Income $99,120
- Net Operating Income $69,196
Additional Features
- 8 Units
- Laundry Facilities
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,333 | $510,466 | -- | -- |
| 2023 | $7,116 | $495,599 | $0 | $0 |
| 2022 | $6,922 | $481,165 | $0 | $0 |
| 2021 | $6,775 | $467,152 | $0 | $0 |
| 2020 | $6,617 | $453,546 | $0 | $0 |
| 2019 | $6,435 | $440,337 | $0 | $0 |
| 2018 | $6,181 | $427,513 | $0 | $0 |
| 2017 | $5,878 | $415,063 | $0 | $0 |
| 2016 | $5,179 | $402,975 | $151,618 | $251,357 |
| 2015 | $4,957 | $391,238 | $147,202 | $244,036 |
| 2014 | $5,038 | $379,844 | $0 | $0 |
| 2013 | -- | $368,782 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/06/2025 03/06/25 | For Sale | $1,250,000 | -- | $260 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | -- | Pacific Title Company | |
| Warranty Deed | $460,000 | Pacific Title Company |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $181,077 | New Conventional | |
| Closed | $181,077 | Commercial | |
| Closed | $181,077 | Commercial | |
| Closed | $200,000 | Commercial |
Source: Regional Multiple Listing Service (RMLS)
MLS Number: 650795690
APN: 13766
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The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Ten-X are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 RMLS™, Portland, Oregon. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.
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