1039 Grant St Newport, OR 97365

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.