Log In/Sign Up
Your email has been sent.
542 Pacific Ave - Pacific Court Apartments 8 Unit Apartment Building Offered at $1,204,070 CAD at a 6.31% Cap Rate Brookings, OR 97415
Executive Summary
Merit Commercial Real Estate is pleased to exclusively present Pacific Court Apartments, an 8-unit apartment complex located in the stunning coastal city of Brookings, Oregon (the "Property").
As an extraordinarily rare public market offering of an attainable and well-positioned apartment complex near schools, parks, downtown, and beach access, Pacific Court presents a unique opportunity ideal for local or out-of-state ownership.
Situated on 0.34 acres, the Property features a recently improved ±5,075 SF single-story multifamily apartment complex with a total of two apartment buildings (one roofline; attached via breezeway) , four storage sheds/units and detached garage building with two divided spaces. Individual unit sizes were not measured, floor plan suggests that all apartment units are varying sizes, see OM for more information.
The layout of the Property is functional and highly efficient with a unit mix including (7) 1-bed/1-bath units and 1 studio unit (Unit #2). Units 1-4 are located within "Building 1" and units 5-7 are in "Building 2".
Tenancies are currently mixed, with several long-term stable tenants and some recent turnover; currently at 100% occupancy with reportedly little to no issues ever maintaining 95%+ occupancy.
Expense splits are standard, with the LL providing water, sewer, and garbage, and the tenant(s) covering unit-power, internet, cable, etc.
Pacific Court is located within a quieter mixed residential neighborhood and is in close proximity to various amenities including Brookings-Harbor High School (directly across the street), multiple parks, restaurants and retailers, employers, and several different beach accesses.
The opportunity is clear at Pacific Court for investors seeking day-one yield from a stable and well-maintained asset, and future upside potential from turnover and further improvements.
Buyer is responsible for any and all due diligence. Contact the listing brokers today for additional information.
As an extraordinarily rare public market offering of an attainable and well-positioned apartment complex near schools, parks, downtown, and beach access, Pacific Court presents a unique opportunity ideal for local or out-of-state ownership.
Situated on 0.34 acres, the Property features a recently improved ±5,075 SF single-story multifamily apartment complex with a total of two apartment buildings (one roofline; attached via breezeway) , four storage sheds/units and detached garage building with two divided spaces. Individual unit sizes were not measured, floor plan suggests that all apartment units are varying sizes, see OM for more information.
The layout of the Property is functional and highly efficient with a unit mix including (7) 1-bed/1-bath units and 1 studio unit (Unit #2). Units 1-4 are located within "Building 1" and units 5-7 are in "Building 2".
Tenancies are currently mixed, with several long-term stable tenants and some recent turnover; currently at 100% occupancy with reportedly little to no issues ever maintaining 95%+ occupancy.
Expense splits are standard, with the LL providing water, sewer, and garbage, and the tenant(s) covering unit-power, internet, cable, etc.
Pacific Court is located within a quieter mixed residential neighborhood and is in close proximity to various amenities including Brookings-Harbor High School (directly across the street), multiple parks, restaurants and retailers, employers, and several different beach accesses.
The opportunity is clear at Pacific Court for investors seeking day-one yield from a stable and well-maintained asset, and future upside potential from turnover and further improvements.
Buyer is responsible for any and all due diligence. Contact the listing brokers today for additional information.
Property Facts
| Price | $1,204,070 CAD | Lot Size | 0.34 AC |
| Price Per Unit | $150,509 CAD | Building Size | 5,075 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.31% | No. Stories | 1 |
| No. Units | 8 | Year Built/Renovated | 1951/2025 |
| Property Type | Multifamily | Parking Ratio | 1.97/1,000 SF |
| Zoning | R-3 - "Multifamily Residential" | ||
| Price | $1,204,070 CAD |
| Price Per Unit | $150,509 CAD |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| No. Units | 8 |
| Property Type | Multifamily |
| Lot Size | 0.34 AC |
| Building Size | 5,075 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2025 |
| Parking Ratio | 1.97/1,000 SF |
| Zoning | R-3 - "Multifamily Residential" |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| Studios | 1 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R14746 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $330,110 CAD |
Property Taxes
Parcel Number
R14746
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$330,110 CAD
1 of 71
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
542 Pacific Ave - Pacific Court Apartments
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.