1031 EXCHANGE REPLACEMENT PROPERTY – MOTIVATED SELLER

Turn-Key Coastal Short-Term Rental | Pacific City, Oregon

5950 Neptune Dr, Pacific City, OR 97135 | MLS #25-857

Price just reduced to $609,000 (original $688,000) – immediate equity + proven cash flow!

•  3 bed | 2 bath | 1,704 sq ft single-level home built 1999

•  Gated Kiwanda Shores with private beach access trail

•  Transferable Tillamook County STR license (grandfathered & active)

•  Professionally managed by Meredith Lodging as “Captain Kujo’s Hideaway”

•  Current net income ≈ $25,000/yr after 35% management fee

•  Brand-new luxury wood flooring throughout (no carpet) + full interior repaint 2025 ($19,000 invested)

•  Indefinite maintenance hold in place – property is show-ready and pristine

•  Low HOA only $25/month

•  4.1% cap rate at current price – strong upside with direct booking or owner optimization

•  Perfect 1031 down-leg or up-leg – seller is already under contract on replacement property and highly motivated for fast close

Ideal for investors seeking passive coastal cash flow with built-in. Walk to Cape Kiwanda, Pelican Pub, surfing, dory fleet, and Nestucca River. Proven booking history and repeat guests.

Seller is 1031-friendly and will cooperate with any Qualified Intermediary for seamless exchange.

Contact listing broker Michelle D. Carlon, Berkshire Hathaway HomeServices Northwest Real Estate

541-205-1425 |

Mcarlon@bhhsnw.com

Or DM seller directly for revenue reports and pro forma.

Let’s get your 1031 closed before the holidays!