Bought with Joseph Bernard LLC
$4,250,000
$4,400,000
3.4%For more information regarding the value of a property, please contact us for a free consultation.
44,716 SqFt
SOLD DATE : 04/21/2020
Key Details
Sold Price $4,250,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 44,716 sqft
Price per Sqft $95
MLS Listing ID 19291474
Sold Date 04/21/20
Year Built 1929
Annual Tax Amount $36,758
Tax Year 2018
Property Description
The Dorchester House is a turnkey apt building perfectly located in Lincoln City. Property has 69 units, plus large office. This market deal has 2 rental restrictions: tenants must be 58 and older, and 20% of units must be rented to tenants that make 50% of median income. Has library, commercial kitchen, parking, laundry and private courtyard with beautiful grounds with in place on-site management. Value-add potential to add 70th unit.
Location
State OR
County Lincoln
Community Commons, Laundry
Area _200
Zoning G-C
Interior
Heating Wall Furnace
Exterior
Garage Spaces 55.0
Community Features Commons, Laundry
View Y/N false
Roof Type Composition
Garage No
Building
Story 3
Sewer Public Sewer
Water Public Water
Level or Stories 3
Others
Acceptable Financing Conventional
Listing Terms Conventional
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