Auction Information
6.2 Acres in Newport, OR
PUBLISHED RESERVE: No Minimum Bid
LAST ASKING: $790,000
SIZE: 6.2± Acres
ZONING: Residential
PROPERTY INSPECTION: Gated Entry - Call Auction Information Office
FINANCING: Subject to Seller's approval of Purchaser's credit: A 30% down payment with the balance secured by a first deed of trust, amortized over 20 years at 6% interest, calling for monthly payments of principal and interest; all due and payable at the end of 2 years.
DESCRIPTION: These ten lots are located at Sea Crest, a gated oceanfront community next to the Inn at Otter Crest between Lincoln City and Newport, with spectacular views of Oregon's central coast. The 68-lot community has a clubhouse, common area, underground utilities, and easy access to nearby Otter Crest Beach and Beverly Beach State Park. There are CC&Rs that require homes to be at least 1,500 sq. ft., with design approved by the Archite...
DESCRIPTION: These ten lots are located at Sea Crest, a gated oceanfront community next to the Inn at Otter Crest between Lincoln City and Newport, with spectacular views of Oregon's central coast. The 68-lot community has a clubhouse, common area, underground utilities, and easy access to nearby Otter Crest Beach and Beverly Beach State Park. There are CC&Rs that require homes to be at least 1,500 sq. ft., with design approved by the Architectural Committee. Homes at Sea Crest are in the $400,000 to $1,000,000 price range.
The properties consist of two lots that are part of the Sea Crest Subdivision, and the adjoining eight lots between Sea Crest Loop, all of which have been approved by the Sea Crest Homeowners' Association for realignment to accommodate the replat. All ten lots are proposed for replatting with a one-way access road at the end of Sea Crest Court to provide access to proposed building sites that will have ocean views.
The Sea Crest Homeowners' Association has approved the easement for the proposed loop road and is in support of the replat. A supplementary declaration was recorded in September 2010. Approvals from Lincoln County will be the responsibility of a new owner.
Copies of a geological report, survey, engineering report for road construction with costs, landscape design and arborist report, easement plat map, Sea Crest Homeowners' Association Supplemental Declaration and other pertinent data are included in the Supplemental Information Package.
Please note that the ten lots are being sold "As Is” to the highest bidder.
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Township 9 South, Range 11 West, Section 29. Lots 22 and 23 on Sea Crest Otter Road, Lot 3, 4, 5, 6, 7, 8, 91, and 10 on Otter Village Phase I. From Highway 101 at Lincoln City, about eight minutes after passing through Depoe Bay, just after mile post 132, look for the blue sign on the right (ocean side) of the road showing the exit for Otter Rock, Devil's Punchbowl, and Inn at Otter Crest. Turn right, proceed to stop sign, and then turn right on Otter Crest Loop. Proceed up the hill about a half mile and look for entrance to the Inn at Otter Crest on the left. Turn left at the entrance and after crossing the second speed bump, look for the Sea Crest Security gate on the right. Call Auction Information Office for code.