Building Details

Year Built 1910

Units 5

Listing Agency: Realty One Group At The Beach, Newport

Listed By: Sandra Matthews · License #910500128 Show Phone

Source: Crexi

Added: Jan 27 Changed: Oct 7 Last Checked: Oct 16 at 8:58AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One Group At The Beach, Newport

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Investment Insights

Based on property information with market context.

This five-unit apartment property contains 12 bedrooms within 4,899 square feet and is currently without tenants. Interior improvements include new vinyl flooring, carpet, updated bathroom finishes, selected kitchen countertops, appliances, and replacement interior doors. Each unit also has dedicated on-site parking.

The property was built in 1910 and carries R-G Residential, General zoning. Its Toledo setting places the building near Downtown Toledo, parks, the library, city pool, and waterfront amenities. Vacant occupancy allows convenient access for property tours.

Key Highlights

• Five‑unit apartment property with 12 bedrooms
• 4,899 square feet of total property size
• All units currently have no tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,035

Cap Rate

5.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$840,700 $840.7K

Cap Rate 7%

$600,500 $600.5K

Cap Rate 9%

$467,056 $467.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,899 SF

Gross rent

$79.4K $16.20/SF

− Vacancy

−$2.9K −$0.60/SF

EGI

$76.4K $15.60/SF

− OpEx

−$34.4K −$7.02/SF

NOI

$42.0K $8.58/SF

Area

Lincoln County, OR

Vacancy

3.70%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$840,700

Cap Rate 7%

$600,500

Cap Rate 9%

$467,056

Alternative Uses

Best Use

Apartment 5plus

$600.5K

$525.4K – $700.6K (±1% cap)

NOI $42,035 @ 7.0% cap · market cap 5.68%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,447 @ 7.0% cap · market cap 12.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Dental Office Pharmacy Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

Location Intelligence

Trade Area within ½ mile

274

Businesses Nearby

Explore this area Business Placement

Demographics for 97391, OR

5,610

Population

2,478

Households

2.3

Avg Household Size

42

Median Age

23%

College-Educated

86%

High-School Grad

115.3 sq mi

ZIP Area

49

Density / Sq Mi

$57,793

Median Household Income

$35,241

Median Earnings

$1,046

Median Rent

$355,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Vacant units feature refreshed interiors, private bathrooms, and parking for each residence.

Where is this apartment building located?

The property is located at 177 NW 6th Street #5 Units Toledo, OR.

What is the asking price?

The asking price for this property is $739,900.

What are key features of this property?

This property features: Five‑unit apartment property with 12 bedrooms; 4,899 square feet of total property size; All units currently have no tenants