Toledo Tower

170 N Main Street, Toledo, Oregon 97391

$1,235,000

Status:
Available
County:
Lincoln
Units:
10
Additional Units:
3,360 SF
Year Built:
1920
Unit Price:
$89,099
Building Size:
14253 TSF sq. ft.
Price per SF:
$82
CAP Rate:
6.76%
Unit Mix:

Ten (10) apartments averaging 1,089 square feet plus three retail spaces with a total of 3,360 SF.

Floors:
3
Laundry Room:
Yes
Covered Parking:
Yes
Siding:
Wood
Property Photo

Toledo Tower in historic downtown Toledo, Oregon was constructed in 1920 and completely remodeled with studs replaced in 1998. The property enjoys long-term tenants and minimal turnover just seven miles from Newport. As the only inland coastal community with a deep water channel, Toledo retains its historical flavor with nearby waterfront and fishing vessels. The owners of Toledo Tower have had a positive relationship with many tenants, resulting in below-market rents. A new owner could increase cash flow by bringing rents to market and capitalizing on the asset's street-front retail.

10
Units
1920
Year Built

Property Location