259 S Pacific St Rockaway Beach, OR 97136
Estimated payment $13,071/month
Highlights
- Ocean Front
- Forced Air Heating and Cooling System
- 2 Car Garage
- Nehalem Elementary School Rated 10
- Baseboard Heating
- 3-minute walk to Rockaway Beach Playground
About This Home
A stone’s throw away from the beach, this rare oceanfront gem in the peaceful coastal town of Rockaway Beach offers the perfect opportunity for both investment opportunity and family retreat. Zoned for commercial use and selling fully furnished, the property is currently operating as a 5 year successful and transferable Airbnb with four income-generating units across one expansive lot. At the heart of the property is a large single family home with 6 bedrooms and 5 bathrooms that can serve as one grand coastal home or be divided into two separate units—ideal for multi-generational living or maximizing short-term rental income. Adjacent to the main home is a charming duplex, each side featuring its own private 1-bedroom, 1-bathroom layout. The property had major updates to bathrooms, systems and appliances in 2020, and also added a stunning sunroom with 180 degree oceanfront views—a show-stopping space for guests or owners to relax and unwind. An oversized garage adds incredible value, with ample room for a workshop, extra storage, or even the potential to convert into an additional rental unit. And with its commercial zoning, the property presents development possibilities—potentially accommodating 6 to 12 condominium units. Whether you're seeking a high-performing short-term rental portfolio, a multi-family coastal escape, or a development-ready investment, 259 S Pacific St is a rare chance to own prime oceanfront real estate in one of Oregon’s most laid-back beach communities. Don’t miss this unique opportunity
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,649
Year Built
- Built in 1945
Lot Details
- 0.55 Acre Lot
- Ocean Front
- Brush Vegetation
Parking
- 2 Car Garage
- Driveway
Home Design
- Flat Roof Shape
- Composition Roof
- Cement Siding
- Vinyl Siding
Interior Spaces
- 2-Story Property
- Ocean Views
Bedrooms and Bathrooms
- 8 Bedrooms
- 7 Bathrooms
Schools
- Nehalem Elementary School
- Neah-Kah-Nie Middle School
- Neah-Kah-Nie High School
Utilities
- Forced Air Heating and Cooling System
- Baseboard Heating
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number 49398
Community Details
Overview
- 4 Units
Building Details
- Operating Expense $91,200
- Gross Income $137,000
- Net Operating Income $45,600
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 | $8,649 | $894,940 | $661,760 | $233,180 |
| 2023 | $8,612 | $868,880 | $642,480 | $226,400 |
| 2022 | $8,295 | $838,860 | $623,760 | $215,100 |
| 2021 | $7,790 | $789,010 | $605,600 | $183,410 |
| 2020 | $7,571 | $766,030 | $587,960 | $178,070 |
| 2019 | $7,359 | $743,720 | $570,830 | $172,890 |
| 2018 | $7,172 | $722,060 | $554,210 | $167,850 |
| 2017 | $6,971 | $701,030 | $538,060 | $162,970 |
| 2016 | $6,771 | $680,620 | $522,400 | $158,220 |
| 2015 | $6,659 | $660,800 | $507,190 | $153,610 |
| 2014 | $6,562 | $641,560 | $492,430 | $149,130 |
| 2013 | -- | $622,880 | $478,100 | $144,780 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/13/2025 05/13/25 | For Sale | $2,200,000 | +193.3% | -- |
| 09/23/2019 09/23/19 | Sold | $750,000 | 0.0% | $297 / Sq Ft |
| 09/23/2019 09/23/19 | Sold | $750,000 | -11.7% | $297 / Sq Ft |
| 09/05/2019 09/05/19 | Pending | -- | -- | -- |
| 05/31/2019 05/31/19 | For Sale | $849,000 | -- | $336 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | -- | None Listed On Document | |
| Warranty Deed | $750,000 | Ticor Title |
Source: Regional Multiple Listing Service (RMLS)
MLS Number: 202794385
APN: R0049398
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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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