$645,000
Newport, OR 97365
MLS# LC-97556
Status: Closed
10 beds | 8 baths | 3048 sqft
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Property Description
Wonderful Investment opportunity! This great 5 rental unit cash flow property is ready for you to start making money! The property includes 4 tiny homes consisting of two 2 Bed/1 Bath , two 1 Bed/1 Bath and a 5th unit that's a 3 Bed/2 Bath 848 Sq Ft home! There's a 6th rental unit that could be added, once completed by the new owner. There's an extra unit currently being used for storage but would make a great laundry facility. Located a few blocks to the ocean and sitting on multiple tax lots with almost 20,000 Sq Ft of land and ample parking for the tenants. Lots of potential with some TLC and endless possibilities with the property! Current gross income is $5,550/month. PROPERTY'S TENANT OCCUPIED, DO NOT DISTURB TENANTS!! Property is being SOLD ''AS IS'' and SELLER WILL DO NO REPAIRS!
Details
Maps
Status Change Information
Status Change Timestamp: 2023-01-26
Purchase Contract Date: 2022-12-06
Close Date: 2023-01-26
Close Price: 645000
Tax & Legal
CC&R's: No
Interior
Basement YN: No
Main Floor Living: Yes
Bedrooms Total: 10
Bathrooms Total: 8
Living Area: 3048
Building
Year Built Details: Some built in 1930
Year Built: 1920
Utilities
Electricity Connected: 1
Natural Gas Available: 1
Water Available: 1
Remarks
Lincoln Public Historical Details: Sellers Terms (Other): Rehab, Selling Remarks: Commercial Loan
Appliances
Electric Oven: 1
Electric Range: 1
Microwave: 1
Refrigerator: 1
Water Heater: 1
Architectural Style
Cottage: 1
Construction Materials
Wood Siding: 1
Flooring
Other: 1
Foundation Details
Block: 1
Concrete Perimeter: 1
Pillar/Post/Pier: 1
Heating
Electric: 1
Levels
One: 1
Listing Terms
1031 Exchange: 1
Cash: 1
Other Structures
None: 1
Outdoor Living Spaces Features
Deck: 1
Possession
Close Of Escrow: 1
Road Surface Type
Paved: 1
Roof
Composition: 1
Sewer
Public Sewer: 1
Showing Considerations
Occupied: 1
Water Heater
Electric: 1
Water Source
Public: 1
Window Features
Window Treatments: 1
Income and Expenses
Gross Income: 66000
Additional Tax and Location Information
Highway 101: West Side
Neighborhood Code: NNNI
Subdivision Block: 69
Subdivision Parcel/Lot: 2-5, 7-11
Tax District: 104
Historical Details
Historical MLS Number: 22-2269
Listing Information
Listing Association Name: Lincoln County BOR
Property Sub Type: Multi Family
Address
Street Number: 416
Street Direction Prefix: SW
Street Name: Alder
County: Lincoln
State: OR
Postal Code: 97365
Directions: Highway 101, west on SW Neff Way and continue on SW Alder St. Entrance to Multi-units is the gravel driveway just south of 416 SW Alder house on street.
Parcel Number: 11-11-08-BC-02600
Contract
Current Price: $645,000
Status: Closed
Begin Date: 2022-10-28
Sold Price: $645,000
Listing Agreement: Exclusive Right To Sell
Listing Service: Full Service
Tax Legal
Subdivision Name: Bayley and Case's
Tax Annual Amount: 5439.99
Tax Year: 2021
Additional Parcels Description: Also included is: 11-11-08-BC-2100/2300/2699
Zoning: R-3 Residential
Tax Lot: 2600
Tax Map Number: 111108BC
AssociationCommunity
Number of Units: 6
Parking Information
Parking Total: 10
Lot
Lot Size Acres: 0.43
Lot Size Square Feet: 18730.8
Property Features
Utilities: Electricity Connected; Natural Gas Available; Water Available; Electricity Connected; Natural Gas Available; Water Available
Appliances: Electric Oven; Electric Range; Microwave; Refrigerator; Water Heater
Architectural Style: Cottage
Construction Materials: Wood Siding
Flooring: Other
Foundation Details: Block; Concrete Perimeter; Pillar/Post/Pier
Heating: Electric
Levels: One
Listing Terms: 1031 Exchange; Cash
Other Structures: None
Outdoor Living Spaces Features: Deck
Possession: Close Of Escrow
Road Surface Type: Paved
Roof: Composition
Sewer: Public Sewer
Water Heater: Electric
Water Source: Public
Window Features: Window Treatments
Showing Considerations: Occupied
Listing Office: Coldwell Banker Professional Group - Lincoln City
Office Email: douglas.caye@coldwellbanker.com
Last Updated: December - 13 - 2025
Information deemed reliable but not guaranteed.