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637 SW 9th St

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Address: 637 SW 9th St, Newport, OR 97365, USA

Seattle & Northwest + Apartment Buildings

Created date: October 18, 2024

Date last updated: October 18, 2024

Property Description

A prime investment opportunity featuring six fully occupied units. Five of the units offer 2 bedrooms and 1 bathroom each, while the sixth unit offers 3 bedrooms, 2 bathrooms, and washer and dryer hookups. The property includes a common area coin-operated laundry for the convenience of the five smaller units. The exterior of the complex is enhanced with durable Hardi-Plank siding. Recent upgrades include the replacement of the garage roofs in 2023, as well as a complete repainting of the entire complex the same year. The main roof for the units was replaced approximately 5-7 years ago, ensuring long-term durability. For parking, the property provides eight single-stall car garages and an additional ninth oversized garage stall. Inside, the units feature a mix of carpet and linoleum flooring, with some units upgraded to luxury-vinyl plank flooring. Please note, no showings will be scheduled prior to an accepted offer. This fully occupied property is a turnkey investment ready for new ownership.

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Broker Details

Dennis M Regen

Taylor and Taylor Realty Co. (541) 994-9111 MLS ID: 20000307192143945710000000 State License Number: 810604051

Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$1,325,000
No. of Units:	6
Cap Rate:	4.6%
Average Occupancy:	6
Year Built:	1992
Building Size:	7,560 Sq ft
Lot Size:	12,632.00 Sq ft
No. of Stories:	2
Zoning Code:	R-4
Opportunity Zone:	No
Price per unit:	$220,833
Parking Spaces:	9