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River Wood Terrace Apartments 1715 S Franklin St 8 Unit Apartment Building $2,162,320 CAD ($270,290 CAD/Unit) 5.35% Cap Rate Seaside, OR 97138
Investment Highlights
- Close to River and the ocean.
- Each unit has their own private yard and a garage with driveway parking also
- complex of 4 duplexes with possibility of one more duplex that could be added with city approval
Executive Summary
The Necancium River flows to the east of the property and the beach 6 blocks to the west of this property that is tucked in to a less traveled neighborhood and lends itself to quiet living. Well-maintained with four duplexes. This 8 plex is a gem. All units have their own private fenced yards, a garage, as well as a Washer and Dryer. Services are just a few blocks away with the Seaside Golf Course and resturant, a market and two other resturants which are easily accessable. Showings will be allowed with a mutually agreed upon purchase and sale agreement. Appointment needed to view or walk the property. Do not disturb the tenants or execute a drive through without an appointment. There may be potential for one more duplex on this property. Buyer to check with City if interested.
A permit that is now expired was issued for the additional duplex in 2021. Drawings are available if interest is there.
A permit that is now expired was issued for the additional duplex in 2021. Drawings are available if interest is there.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,162,320 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $270,290 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 5.35% | Building Size | 9,740 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 0.82/1,000 SF |
| Zoning | R-1 - Operating as a multifamily unit since 1961 | ||
| Price | $2,162,320 CAD |
| Price Per Unit | $270,290 CAD |
| Sale Type | Investment |
| Cap Rate | 5.35% |
| Sale Condition | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 9,740 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | R-1 - Operating as a multifamily unit since 1961 |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Range
- Yard
Site Amenities
- Courtyard
- Smoke Free
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,756 CAD | 716 - 1,000 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 12640 | Total Assessment | $749,280 CAD |
| Land Assessment | $0 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
12640
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$749,280 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025 Payable 2025
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River Wood Terrace Apartments | 1715 S Franklin St
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