Experience the quintessential Oregon Coast lifestyle at this stunning Nantucket-style cottage located in the premier community of Olivia Beach. This home is perfectly positioned to offer both a private sanctuary and a high-performing investment opportunity, boasting a rare and transferable Short-Term Rental (STR) outright use. In a market where such permits are a "Golden Ticket," this property allows you to generate significant income that can pay for the home while providing you the flexibility to use it whenever you wish. The home's layout is expertly designed for the modern traveler, featuring two spacious en-suite bedrooms upstairs for maximum privacy and a bright, open-concept living space on the main level. Outdoor living is a highlight, with a charming covered front porch that overlooks the vibrant community park—complete with sand volleyball, a playground, and fire pits—and a secluded rear courtyard perfect for BBQs and a hot tub after a day at the beach. Beyond the main house and above the detached garage includes a versatile flex space or 3rd bedroom with it's own bathroom greatly increasing rental income or to be used as an owner's lockout, home office, or guest overflow. Unlike many other homes here, this garage is not shared and this unit has 3 dedicated parking spaces, creating a private feel for the entire property that you'll appreciate when you see in person. Bordering the park and situated just steps from a community trail, you have direct access to one of the prime surf beaches in Lincoln City, making this the ultimate coastal retreat for owners and renters alike.