Active

$689,000

5514 3rd St, Tillamook, OR 97141

8beds

3,572sqft

$4,407/mo

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Quadruplex

Built in 1978

-- sqft lot

$627,500 Zestimate^®

$193/sqft

$-- HOA

What's special

Ample onsite parking

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.

152 days

196

11

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 4
Full bathrooms: 4

Heating

Electric, Wall Furnace, Zoned

Cooling

None

Appliances

Included: Dryer, Dishwasher, Electric Range, Refrigerator, Washer

Features

Storage
Flooring: Vinyl
Windows: Double Pane Windows, Vinyl Frames
Has basement: No
Has fireplace: No

Interior area

Total structure area: 3,572
Total interior livable area: 3,572 sqft
Finished area above ground: 3,572
Finished area below ground: 0

Property

Parking

Total spaces: 8
Parking features: Off Street

Features

Levels: Two
Stories: 2
Patio & porch: Covered Patio, Deck
Fencing: None

Lot

Size: 0.43 Acres
Features: Level

Details

Additional structures: None
Parcel number: 149547
Zoning description: TM-R0 Tillamook - Residential Multiple Use
Special conditions: Standard
Other equipment: None

Construction

Type & style

Home type: MultiFamily
Architectural style: Traditional
Property subtype: Quadruplex

Materials

Wood Siding
Foundation: Concrete Perimeter
Roof: Composition

Condition

New construction: No
Year built: 1978

Utilities & green energy

Sewer: Septic Tank
Water: Public
Utilities for property: Electricity Connected, Sewer Connected, Water Connected, Phone Available, Separate Meters

Community & HOA

Community

Subdivision: None

HOA

Has HOA: No

Location

Region: Tillamook

Financial & listing details

Price per square foot: $193/sqft
Tax assessed value: $573,997
Annual tax amount: $3,353
Date on market: 3/15/2026
Listing terms: 1031 Exchange,Cash,Conventional
Tenant pays: Electricity, Internet
Electric utility on property: Yes
Road surface type: Paved

Estimated market value

$627,500

$596,000 - $659,000

$1,541/mo

Price history

Date	Event	Price
3/15/2026	Listed for sale	$689,000$193/sqft
Source: OCMLS #26-608 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,353 +5.5%	$319,190 +3%
2024	$3,177 +0.6%	$309,900 +3%
2023	$3,158 +3.6%	$300,880 +3%
2022	$3,048 +3%	$292,120 +3%
2021	$2,959 +2.8%	$283,620 +3%
2020	$2,879 +2.9%	$275,360 +3%
2019	$2,799 +8.2%	$267,340 +3.4%
2018	$2,586	$258,600 +6.1%
2017	$2,586 +14.7%	$243,720 +7.7%
2016	$2,254	$226,260 +1.7%
2015	$2,254 +0.6%	$222,380 +6%
2014	$2,240 +4.3%	$209,810 -2.6%
2013	$2,148 -3.5%	$215,470 -2.6%
2012	$2,226 -19.3%	$221,170 -17.3%
2011	$2,760 +5.8%	$267,340 +3%
2010	$2,609 -5.7%	$259,555 +0.6%
2009	$2,766 +1.4%	$258,040 +3%
2008	$2,727 +2.5%	$250,530 +3%
2007	$2,660 +5.3%	$243,240 +3%
2006	$2,526 +4.6%	$236,160 +3%
2005	$2,415 +3.3%	$229,290 +3%
2004	$2,338	$222,620 +3%
2003	--	$216,145