Listing provided courtesy of Rob Trost Real Estate LLC- MLS# 677123962
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5514 3RD STTillamook, OR 97141
Multi-Family · 3,572 Sq. ft. | 0.43 Acres$689,000
Active
5514 3RD ST Overview
- Time on Site:
- 106 days
- Visits:
- 0
Investment Opportunity! This well-located 4-plex sits on a generous .43-acre parcel and is the last property before the grange, offering a convenient setting with open views. The property is fully occupied with long-term tenants and presents excellent upside potential as current rents remain below market rates. Each unit is separately metered and served by septic and public water, helping keep monthly utility expenses low and management simple. Tenants enjoy private decks with views of the surrounding valley and mountains, along with ample onsite parking. With a strong rental history, consistent occupancy and room to increase income over time, this property represents a solid investment with promising future potential.
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5514 3RD ST Facts & Features
- Type Multi-Family
- Sq. ft. 3,572
- Price/Sq.ft. $193
- Lot 0.43 Acres
Details
General
School Information
- Elementary School: South Prairie
- Middle Or Junior School: Tillamook
- High School: Tillamook
Income/Expenses
- Gross Income: 43800.0
- Net Operating Income: 31920.0
- Operating Expense: 8393.0
Building Information
- Year Built: 1978
Location/Region
- Country: US
- County Or Parish: Tillamook
- MLS Area Major: 195 - Tillamook County
Rent/Lease Information
- Rent Includes: Sewer,Trash Collection,Water
Tax Information
- Tax Annual Amount: 3353.26
- Tax Year: 2025
General Information
- Disclosures: Disclosure
- Listing Terms: Cash,Conventional
- Parcel Number: 149547
- Property Condition: Existing
- Property Type: Multi Family
- Zoning: TM-R0
Interior
Building Interior
- Building Area Total: 3572.0
General Information
- Basement: Crawl Space
- Cooling: None
- Foundation Details: Concrete Perimeter
- Heating: Wall Furnace,Zoned
- Stories: 2
Exterior
Parking Information
- Parking Features: Off Street,Paved
- Parking Total: 8.0
Lot Information
- Lot Features: Level
- Lot Size Acres: 0.43
- Lot Size Square Feet: 18730.0
- Road Surface Type: Paved
- Water Source: Public Water
Building Exterior/Construction
- Roof: Composition
General Information
- Number Of Units Total: 4
- Sewer: Septic Tank,Standard Septic
5514 3RD ST Neighborhood
Community
97141 (Tillamook) Demographics
42
Median Age
57
Population Density (per sq. mile)
29%
College Educated
$54,424
Estimated Median Income
3,275
Estimated Total Home Owners
2,020
Estimated Total Renters
62% / 38%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.5514 3RD ST Monthly Cost
5514 3RD ST Market Data
Based on the last 30 days in this zip code
$570,935
Average List Price
$297
Average Price per Square Foot
10
Properties Sold
123
Average Days on Market
148
Properties for Sale
5514 3RD ST History
| Date | Value | Agent |
|---|---|---|
| 3/15/2026Source: Regional MLS | March 15, 2026 |