Just steps to one of the most beautiful beaches in the world sits a beach bungalow that is immediately surrounded by $1.0 million-$2.5 million dollar properties. Just one row back from beachfront with slices of whitewater views from the topside deck, is a 1 bedroom, 1 bath 555 sf home with awesome potential. Previously restricted by Cannon Beach to no greater than $30k in renovations and could not be rebuilt, the city has agreed to a recent petition for policy change. The city has now approved unlimited renovation amounts or even a rebuild that with the agreed set-back adjustment allows for up to a 600 sf new home. Estimated rehab costs to the existing home is $40k-$60k depending on fit and finish. Comparable 1 bedroom home sales in Oregon’s number one beach tourist destination are between $416k-$718k. None of those properties were as close to the beach as this one is. Depending on the quality of renovation or rebuild ARV is $450k-$550k+. This is a rare opportunity to own or flip in a town that rarely has properties for sale.
Property will be sold to the highest bidder with minimum bid price of $260k. Highest bidder sale will be on Saturday 2/6/2021. Open house will be from 10am-4pm on Friday and Saturday 2/5-2/6/. Bids accepted at the home, via text/phone, or email on or before 2/6 @ 5pm.
For pics, video and information, including bidding rules and inspection report, follow the below link to the website.
https://www.homemattersnw.com/cannon-beach-property-for-sale/
Property will be sold to the highest bidder with minimum bid price of $260k. Highest bidder sale will be on Saturday 2/6/2021. Open house will be from 10am-4pm on Friday and Saturday 2/5-2/6/. Bids accepted at the home, via text/phone, or email on or before 2/6 @ 5pm.
For pics, video and information, including bidding rules and inspection report, follow the below link to the website.
https://www.homemattersnw.com/cannon-beach-property-for-sale/
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