NOT LISTED FOR SALE

863 SW 48th St Lincoln City, OR 97367

Estimated Value: $1,231,000 - $1,532,000

17 Beds
13 Baths
6,140 Sq Ft
$227/Sq Ft Est. Value

Last Sold November 15, 2013

Last sale price $535,000 $87 Per Sq Ft

Est. 161% increase in value since last sale

Current estimated payment $8,407/month

116 Days on Market

Highlights

  • Bay View
  • Vaulted Ceiling
  • Cottage
  • Deck
  • No HOA
  • 3-minute walk to Taft City Park

About This Home

As of November 2013

10 Rental Units located a block from the beach/bay in the Historic Taft district. Multiple uses under the TVC Zoning. Would make an excellent B&B site, condo units, hotel, vacation rentals or..? Currently rented month to month & bringing in over $7300 monthly. Gross figure for 2012 was over $85,000 in income. DO NOT DISTURB THE TENANTS, SHOWN BY APPOINTMENT ONLY. Buyer to check with the City of Lincoln City for all approved uses.

Last Agent to Sell the Property

Dennis Regen

Taylor & Taylor Realty Company License #810604051 Listed on: 05/08/2013

Last Buyer's Agent

Out of Area

OUT OF AREA

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,789

Year Built

  • Built in 1928

Lot Details

  • 0.46 Acre Lot
  • Lot Dimensions are 100x200

Home Design

  • Cottage
  • Metal Roof
  • Lap Siding

Interior Spaces

  • 6,140 Sq Ft Home
  • 2-Story Property
  • Vaulted Ceiling
  • Bay Views

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 13 Bathrooms

Parking

  • 20 Open Parking Spaces
  • 20 Parking Spaces

Outdoor Features

  • Deck
  • Covered Patio or Porch

Utilities

  • Cooling Available
  • Heating Available
  • Water Heater

Listing and Financial Details

  • Assessor Parcel Number 071127DC-2608-00

Community Details

Overview

  • No Home Owners Association
  • 10 Units

Building Details

  • Gross Income $85,223

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,789

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Property Sub Type: Multi-Dwelling
  • Prop. Type: Multi-Dwelling
  • Road Frontage Type: None
  • Lot Size Acres: 0.46
  • Lot Size: 100x200
  • Lot Size Sq Ft: 20037.6
  • Road Surface Type: Paved
  • Directions: HWy 101 to SW Fleet, right on SW 48th Street to property at the end of the Street.
  • Architectural Style: Cottage
  • Garage Yn: No
  • Year Built: 1928
  • Contract Information:BankLender Owned: No
  • Contract Information:Short Sale: No
  • General Property Description:Frontage: None
  • General Property Description:Primary View: Bay
  • General Property Description:Secondary View: None
  • General Property Description:_pound_ of Acres: 0.46
  • Location Tax and Other Information:Tax Lot: 2608
  • General Property Description:Total Bedrooms: 17
  • General Property Description:Total Bathrooms: 13.0
  • General Property Description:Levels: Two
  • General Property Description:Style: Cottage
  • General Property Description:Basement: No
  • Electric:On Property2: Yes
  • DeckPatio:Deck: Yes
  • Gas:On Property3: Yes
  • Sewer:City3: Yes
  • General Property Description:Lot Dimensions: 100x200
  • Location Tax and Other Information:Subdv ParcelLot: NA
  • Internal Features:Water Heater: Electric
  • Siding:Lap: Yes
  • Ceiling:Vaulted: Yes
  • Roof:Metal: Yes
  • DeckPatio:Covered Porch: Yes
  • Gross Income: 85223.0
  • Miscellaneous Possession: Nego
  • Special Features: None

Interior Features

  • Appliances: Water Heater
  • Total Bedrooms: 17
  • Interior Amenities: Vaulted Ceiling(s)

Exterior Features

  • View: Bay
  • Foundation Details: Cont/Con
  • Other Structures: None
  • Patio And Porch Features: Deck
  • Roof: Metal

Garage/Parking

  • Open Parking Spaces: 20.0
  • General Property Description:Garage Type: None
  • General Property Description:Garage Stall: 0
  • External Features:Parking Spaces: 20.0

Utilities

  • Heating: Electric
  • Heating Yn: Yes
  • Utilities: Electricity Available, Natural Gas Available
  • Water Source: City Street
  • HeatingCooling:Electric: Yes

Condo/Co-op/Association

  • Association: No

Lot Info

  • Parcel #: 071127DC-2608-00
  • Zoning: TVC - Taft Village Core

Multi Family

  • Number Of Units Total: 10
  • Annual Gross Income: 85223.0

Tax Info

  • Tax Annual Amount: 9788.87
  • Tax Year: 2013

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 8, 2013
Closed on
Oct 13, 2013
Sold by
Leonards Cove Llc
Bought by
Qatmash Aj
Seller's Agent
Dennis Regen
Taylor & Taylor Realty Company
Buyer's Agent
Out of Area
OUT OF AREA
List Price
$599,000
Sold Price
$535,000
Premium/Discount to List
-$64,000
-10.68%
Current Estimated Value
$1,396,756

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$861,756
Avg. Annual Appreciation
8.35%
Original Mortgage
$401,250
Interest Rate
4.17%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Qatmash Aj $535,000 Western Title & Escrow
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Qatmash Aj $401,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/15/2013 11/15/13 Sold $535,000 -10.7% $87 / Sq Ft
09/01/2013 09/01/13 Pending -- -- --
05/08/2013 05/08/13 For Sale $599,000 -- $98 / Sq Ft
Source: Lincoln County Board of REALTORS® MLS (OR)

Tax History Compared to Growth

Source: Public Records

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 $13,154 $771,570 -- --
2023 $12,791 $749,100 $0 $0
2022 $12,435 $727,290 $0 $0
2021 $11,845 $706,110 $0 $0
2020 $11,573 $685,550 $0 $0
2019 $11,179 $665,590 $0 $0
2018 $10,927 $646,210 $0 $0
2017 $10,458 $627,390 $0 $0
2016 $9,795 $609,120 $0 $0
2015 $8,466 $530,000 $0 $0
2014 $8,498 $530,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Dennis Regen

    Seller's Agent in 2013

    Dennis Regen

    Taylor & Taylor Realty Company

    (541) 994-4169

    633 Total Sales

    Dennis Regen
    Section Image

  • O

    Buyer's Agent in 2013

    Out of Area

    OUT OF AREA

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Map

Source: Lincoln County Board of REALTORS® MLS (OR)

MLS Number: 13-1287

APN: R257435

Oregon Lincoln County Lincoln City 97367

863 SW 48th St, Lincoln City, OR

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