Updated Five-Unit Apartment
For Sale
Contact for pricing
177 NW 6th Street, Toledo, OR 97391
Vacant units feature refreshed interiors, private bathrooms, and parking for each residence.
Property Size4,899 SF
Price / SF$151.03
Days on Market216
Property Features for 177 NW 6th Street
General Information
Standard status
Active
Size
4,899 SF
Total Parking Spaces
10
Property subtype
Multifamily
Zoning
R-G Residential, General
Additional Details
Multifamily Units
5
Building Details
Year Built
1910
Units
5
Listing Agency:
Realty One Group At The Beach, Newport
(503) 881-2313
Listed By:
Sandra Matthews · License #910500128
Source:
Crexi
Added: Jan 27
Changed: Aug 30
Last Checked: Aug 30 at 6:03AM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,035
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$840,700
$840.7K
Cap Rate 7%
$600,500
$600.5K
Cap Rate 9%
$467,056
$467.1K
Market Conditions
NOI Build-Up for 4,899 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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
NOI $89,447 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 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
