$1,400,000
$200K PRICE DROP

166 NE 8th St Newport, OR 97365

Estimated payment $8,185/month

Total Views 1,979
1 Bed
1 Bath
-- Sq Ft
-- Price per Sq Ft

About This Home

Exceptional Investment Opportunity – 10-Unit Complex in the Heart of Newport!Discover a rare opportunity to own a well-maintained 10-unit apartment complex ideally situated in the heart of Newport. Each 1-bedroom, 1-bathroom unit features a refrigerator, electric range/stove, and private back deck—perfect for tenants seeking comfort and convenience near coastal amenities. The property offers 6 covered carports plus 4 additional parking spaces, along with an on-site laundry facility for tenant ease. Property includes 3 storage spaces: the biggest one is 17'x28'; 2nd is 8'x12', and the 3rd is 8'x9'. Just a few blocks from Nye Beach. Rent includes water and garbage services, a 6% cap rate and a strong history of full occupancy, this is a proven income-producing property that rarely sees turnover.

Listing Agent

Delene Myers

RE/MAX Integrity License #200903044 Listed on: 11/13/2025

RE/MAX Integrity

Co-Listing Agent

Brian Bemis

RE/MAX Integrity License #200603608

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,938

Year Built

  • Built in 1976

Home Design

  • Composition Roof
  • Vinyl Siding

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Parking

  • 10 Parking Spaces
  • Carport
  • Off-Street Parking

Schools

  • Yaquina View Elementary School
  • Newport Middle School
  • Newport High School

Utilities

  • No Cooling
  • Zoned Heating

Additional Features

  • Territorial Views
  • 8,276 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number R345161

Community Details

Overview

  • 10 Units

Building Details

  • Operating Expense $43,030
  • Gross Income $139,355
  • Net Operating Income $96,325

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,938

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Year Built: 1976
  • Property Attached Yn: No
  • Current Price For Status: 1400000.0
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 1
  • Lot Size Range: SqFt7000to9999

Exterior Features

  • Exterior Description: VinylSiding
  • Lot Size: 7,000 to 9,999 SqFt
  • View: Yes
  • Road Surface Type: Concrete
  • Roof: Composition
  • View: Territorial

Garage/Parking

  • Parking Description: Carport, OffStreet
  • Attached Garage: No
  • Total Parking Spaces: 10.0

Utilities

  • Fuel Description: Electricity
  • Cooling Y N: No
  • Heating: Zoned
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Schools

  • Elementary School: Yaquina View
  • High School: Newport
  • Middle Or Junior School: Newport

Lot Info

  • Zoning: C1
  • Lot Size Acres: 0.19
  • Lot Size Sq Ft: 8276.0
  • Parcel #: R345161

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: MaintenanceGrounds, TrashCollection, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2025
  • Tax Annual Amount: 9938.44

Multi Family

  • Unit Type: UnitTypeType1
  • Number Of Units Total: 10
  • Gross Rent Multiplier: 10.05
  • Annual Gross Income: 139355.0
  • Property Net Operating Income: 96325.0
  • Annual Operating Expense: 43030.0

Map

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/02/2025 12/02/25 Price Changed $1,400,000 -12.5% $219 / Sq Ft
11/13/2025 11/13/25 For Sale $1,600,000 0.0% $251 / Sq Ft
10/21/2025 10/21/25 Off Market $1,600,000 -- --
10/21/2025 10/21/25 For Sale $1,600,000 -- $251 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 797693868

Regional Multiple Listing Service (RMLS)
Oregon Lincoln County Newport 97365

166 NE 8th St, Newport, OR

For Sale

MultiFamily

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Delene Myers
Listing Agent
Delene Myers
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RE/MAX Integrity
(458) 320-2358