$1,132,000
$1,250,000
9.4%For more information regarding the value of a property, please contact us for a free consultation.
10 Beds
10 Baths
6,384 SqFt
SOLD DATE : 05/18/2026
Key Details
Sold Price $1,132,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,384 sqft
Price per Sqft $177
Subdivision Phelps - Newport
MLS Listing ID LC-105076
Sold Date 05/18/26
Style Traditional
Bedrooms 10
Full Baths 10
HOA Y/N No
Year Built 1976
Annual Tax Amount $9,731
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type Multi Family
Source Oregon Coast Multiple Listing Service
Property Description
Exceptional Investment Opportunity - 10-Unit Complex in the Heart of Newport!
Discover a rare opportunity to own a well-maintained 10-unit apartment complex ideally situated in the heart of Newport. Each one-bedroom, one-bathroom unit features a refrigerator, electric range/stove, and private back deck—perfect for tenants seeking comfort and convenience near coastal amenities.The property offers six covered carports plus ample additional parking, along with an on-site laundry facility for tenant ease. Property includes 3 storage spaces: the biggest one is 17'x28'; 2nd is 8'x12', and the 3rd is 8'x9'. Just a few blocks from Nye Beach.
Rent includes water and garbage services, helping maintain consistent occupancy and tenant satisfaction. With a 6% cap rate and a strong history of full occupancy, this is a proven income-producing property that rarely sees turnover.
Location
State OR
County Lincoln
Community Phelps - Newport
Zoning C-1 Commercial
Direction Hwy 101 to 8th
Interior
Heating Electric, Zoned
Flooring Carpet, Vinyl
Appliance Electric Oven, Electric Range
Exterior
Garage Spaces 6.0
Utilities Available Electricity Connected, Natural Gas Connected, Water Available
Roof Type Composition
Street Surface Paved
Porch Deck
Total Parking Spaces 6
Garage Yes
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Traditional
Structure Type Vinyl Siding
New Construction false
Others
Tax ID 111105DC-3001-00
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Bought with Outside of MLS
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