Hmm, definitely not like the 'good ole' days of 5 years ago ;) But I did find a couple of cottages that were pretty cheap one even fell under that $250k mark. Keep in mind I am using the Portland based RMLS and there are more listings on the Seattle based NWMLS, but a search of Zillow or Trulia will find listings from either MLS system.
First was this adorable cottage listed at $220,000. It features 1 bed and 1 bath with a whopping 440 square feet. Whatever will you do with all that room? It was built in 1987 and has been more recently remodeled. It is undeniably cute and is located in the rather pleasant Ocean Park area north of the more busy Long Beach. There is an HOA but it is only $53 a month and includes water, garbage, and security patrol. That is a screaming deal actually. This one is right smack dab in the middle of the peninsula so you have about a mile to travel to get to either the beach or the bayfront. This is a little slice of coastal heaven at a price within reach of regular folks.
I also found this one, not under that $250k mark but it is listed at just $265,000 and this little cottage is actually two cottages joined together to form two rental units. An enormous 690 square feet of spacious living awaits you here with 2 beds and 2 baths. Built in 1940 and in need a some TLC the real sales pitch is its location just a few of blocks from the beach access point. It is located in Long Beach close to the main drag so summers will be busy. But you can also walk to all the restaurants, shops, and attractions so that's cool. There is a clear rental income opportunity or a live in one side and rent the other. That $265k price is starting to look like a steal.
So value on the peninsula have skyrocketed in the last few years but there are still values to be found for the thrifty shopper. Keep you eyes peeled, these 8% rates are eroding the buyer pool and sellers are getting nervous. You can still have the beach dream so get out there and find it.
