213 NE 7th Street, Newport, OR 97365
COMMERCIAL - Newport, OR
- Added:
- May 29, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 10 at 6:06 am
Property Features for 213 NE 7th Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-3 Residential
- Bathrooms
- 20
- Rooms
- Bathroom 17, Bathroom 18, Bathroom 7, Bathroom 16, Bathroom 3, Bathroom 4, Bathroom 14, Bathroom 10, Bathroom 19, Bathroom 8, Bathroom 1, Bathroom 2, Bathroom 12, Bathroom 6, Bathroom 9, Bathroom 15, Bathroom 13, Bathroom 5, Bathroom 20, Bathroom 11
- Parking features
- Garage - Attached
- Standard status
- Active
- APN
- 2800,2500,2400
- Size
- 15,944 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 17224
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1990
- Floors in Building
- 3
- Roof type
- Composition
Listing agent Steve Lovas License #201206063 (541) 283-3040
Listing office Martek Real Estate 567 N Coast Hwy, Newport, OR (541) 265-8785
Listing date May 29, 2026
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.
HighLights
- 10‑plex with unit mix of nine 2‑bedroom units and one 3‑bedroom unit
- All units include off‑street garage parking
- Electric heating and composition roof
- Public water and public sewer
- Cable available
Overview
Located at 213 NE 7th Street in Newport, Oregon 97365, the property is set on a 0.11-acre lot. The listing is identified under R-3 Residential zoning. Total building size is listed at 15,944 square feet.
This is a straightforward small multifamily option for an owner-operator or investor seeking a compact rental portfolio with an apartment mix that includes both 2-bedroom and 3-bedroom layouts. Off-street garage access supports everyday tenant needs, and the unit configuration provides flexibility for household sizes within the same property footprint. As presented, the offering focuses on a maintained asset with consistent on-site parking for each unit.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $258.3k | $16.20 |
| − Vacancy | −$9.6k | −$0.60 |
| EGI | $248.7k | $15.60 |
| − OpEx | −$111.9k | −$7.02 |
| NOI | $136.8k | $8.58 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.051088
- Latitude
- 44.641342
