Tl5500 Nw 22nd St, Lincoln City, OR 97367

Property Description

Site-plan approved 4-plex lot — seller financing available, utilities connected. This 0.22-acre parcel in Lincoln City's Ocean Lake neighborhood is zoned R-M and approved for a 4-plex — a rare shovel-ready position on the central Oregon Coast. Comparable 2-bedroom units in the area rent for $1,800-$2,100/month, putting a fully leased build in the range of roughly $7,200-$8,400/month in gross rental income. (Buyer to verify rents and finalize unit mix.) The groundwork is already done: electricity, public water, and public sewer are connected at the site, and it fronts a paved city street with curbs and sidewalks in place — so you head toward permits instead of burning months and thousands on utility runs. Seller financing available with owner terms — a major advantage on land, where bank financing is hard to come by. Add low carrying costs (just $1,147 in taxes last year), no HOA, no CC&Rs, and no land lease, and the path to breaking ground is clean. Minutes from Highway 101 and the beaches that drive year-round rental demand on the coast. Approved, connected, financeable. Buyers due diligence with the city on plans.