Newport Portfolio (21 Unit Portfolio)
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Newport Portfolio (21 Unit Portfolio)
2 Residential Properties Offered at £2,347,350 in Newport, OR
Investment Highlights
- Seller financing available with 5% interest and interest-only payments!
- The sale includes three separate developable lots in addition to the apartment lots
- Heavy value-add opportunity
- 8.54 % Proforma/Renovated cap rate
- Two apartments totaling 21 units
Executive Summary
The Eagles Nest and Newporter Apartments offer 13 and 8 apartment units respectively. These two properties are located within a 1/4 mile of one another and being sold together. Newport is currently experiencing an affordable housing crisis and the area has seen low vacancy and strong rental rates. Units at the Eagles Nest are tow bedroom and offer views, washer/dryers hookups, and close proximity to the historic Nye Beach. The Newporter Apartments consists of 8 townhouse units located in a quiet, residential neighborhood all with washer/dryer hookups.
The sale includes three separate developable lots in addition to the apartment lots. The Properties have been owner-managed and historical operating info is limited.
Seller Financing: The properties are offered together and the owner will entertain selling with favorable contract terms to a well-qualified Buyer. The Seller is proposing carrying a note at a rate of 5% interest only, up to 5-years, with only a $500,000 down payment (83%+ Loan to Value).
The sale includes three separate developable lots in addition to the apartment lots. The Properties have been owner-managed and historical operating info is limited.
Seller Financing: The properties are offered together and the owner will entertain selling with favorable contract terms to a well-qualified Buyer. The Seller is proposing carrying a note at a rate of 5% interest only, up to 5-years, with only a $500,000 down payment (83%+ Loan to Value).
Property Facts
| Price | £2,347,350 | Number of Properties | 2 |
| Price / SF | £132.74 / SF | Individually For Sale | 0 |
| Net Initial Yield | 4% | Total Building Size | 17,684 SF |
| Sale Type | Investment | Total Land Area | 1.03 AC |
| Status | Active |
| Price | £2,347,350 |
| Price / SF | £132.74 / SF |
| Net Initial Yield | 4% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 17,684 SF |
| Total Land Area | 1.03 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Eagles Nest
223 NW Nye St, Newport, OR 97365 |
Residential | 10,516 SF | - | - |
|
Newporter
208-224 NW 7th St, Newport, OR 97365 |
Residential | 7,168 SF | 1973 | - |
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Newport Portfolio (21 Unit Portfolio)
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