Updated Five-Unit Apartment
For Sale
$739,900
Pending
177 NW 6th Street, Toledo, OR 97391
Residential Income, Toledo, OR
Property Size4,899 SF
Lot Size0.33 Acres
Days on Market539
Property Features for 177 NW 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-G Residential, General
Bedrooms
11
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 6, Bedroom 9, Bathroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 7, Bedroom 11, Bedroom 1, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 10, Bedroom 8, Bathroom 4
Parking
10
Interior features
Vaulted Ceiling(s)
Appliances
Electric Oven, Electric Range, Refrigerator, Water Heater
Subdivision
Toledo Townsite
Directions
From Newport 5 miles east to US 20 Business exit by Dairy Queen, left at the light onto NW A St, 1 Block take right. 5 unit apartments is on the right.
Standard status
Pending
APN
111008CC-13000-00
Size
4,899 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5911
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Baseboard, Wall Furnace, Electric (Heating)
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
5
Flooring type
Carpet, Vinyl
Building materials
T1-11 Type
Roof type
Composition
Architectural style
Other
Listing Agency:
Realty One Group At The Beach, Newport
(503) 990-7137
Listed By:
Sandra D Matthews · License #910500128
(503) 320-4610
Added: Mar 28, 2025
Changed: Sep 16
Last Checked: Sep 17 at 2:06PM
MLS# LC-103302
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment property contains 11 bedrooms across 4,899 square feet on a 0.33-acre parcel. The units are currently vacant and have received updates including vinyl and carpet flooring, selected kitchen counters and appliances, interior doors, and bathrooms. Additional features include vaulted ceilings, electric heating, wall furnaces, baseboard heating, composition roofing, and T1-11 construction. Appliances include electric ovens and ranges, refrigerators, and water heaters.
The property is located at 177 NW 6th Street in Toledo, with access to public water and public sewer. Downtown Toledo, parks, the library, city pool, and waterfront are nearby, while Newport is described as a few miles away. The property is zoned R-G Residential, General, and each unit has parking.
The property is located at 177 NW 6th Street in Toledo, with access to public water and public sewer. Downtown Toledo, parks, the library, city pool, and waterfront are nearby, while Newport is described as a few miles away. The property is zoned R-G Residential, General, and each unit has parking.
Key Highlights
- Five‑unit apartment property with 11 bedrooms and 4,899 square feet
- 0.33‑acre parcel zoned R‑G Residential, General
- Unit interiors updated with vinyl flooring, carpet, kitchen items, interior doors, and bathrooms
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
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Open Analytics
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Vacant multifamily property with refreshed unit interiors, individual parking, and public water and sewer service.
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 11 bedrooms and 4,899 square feet; 0.33‑acre parcel zoned R‑G Residential, General; Unit interiors updated with vinyl flooring, carpet, kitchen items, interior doors, and bathrooms
