1039 Grant St Newport, OR 97365
Property Lookup
Property profile & analytics
1039 Grant St Newport, OR 97365
- Small apartment buildings
- 2,720 SF
- 0.17 lot acres
Property ID
US71-0533665
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Small apartment buildings
Property Details for 1039 Grant St
- Year built
- 1940
- Lot size
- 0.17 lot acres
- Property size
- 2,720 SF
- Property type
- Small apartment buildings
Description
This exceptional investment opportunity presents a beautifully remodeled 1940-built duplex located at 1039 (-1041) NE Grant Street in Newport, Oregon. The property boasts a desirable location at the end of a quiet street, offering easy access to Highways 101 and 20, minimizing traffic noise. This stabilized multi-family investment features two units, each with its own distinct appeal. The upper unit commands a monthly rent of $2,750, while the lower unit rents for $1,800 per month, resulting in a 100% occupancy rate and a strong net operating income (NOI) of $50,825. The property's total square footage is 2,720, spread across a 0.17-acre lot, with ample parking. Both units feature recently updated kitchens and the lower unit offers a daylight basement with a private entrance. The property is classified as a Class B, two-story building, and offers a compelling cap rate of 6.79%. The asking price is $749,000, translating to $374,500 per unit and $275.37 per square foot. Current tenants have been in place for less than a year on month-to-month leases. This presents an excellent opportunity for owner-occupancy or continued rental income generation. The property's recent remodel, high occupancy, and strong financial performance make it an attractive investment prospect in the Newport, Oregon market.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.04474094256
- Latitude
- 44.644281345699
