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Listing provided courtesy of Kelly Right Real Estate of Portland, LLC- MLS# 597429344MLS Provider

1218 NW LAKE STNewport, OR 97365

Multi-Family
$650,000 Active

1218 NW LAKE ST Overview

Time on Site:
144 days
Visits:
4

Multifamily home two blocks from the ocean! This well cared for, 3 unit property, features two recently remodeled units and fresh exterior paint, creating a bright and updated coastal feel. All units are currently leased, offering immediate income in a highly desirable location. This is a great opportunity to own a coastal three-unit property with in-place income, strong rental history, and and long-term potential.

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1218 NW LAKE ST Facts & Features

  • Type Multi-Family

Details

General

School Information

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

Income/Expenses

  • Gross Income: 60000.0
  • Net Operating Income: 50000.0
  • Operating Expense: 10000.0

Building Information

  • Year Built: 1969

Location/Region

  • Country: US
  • County Or Parish: Lincoln
  • MLS Area Major: 200 - Lincoln County
  • Subdivision Name: OCEAN VIEW

Rent/Lease Information

  • Rent Includes: None

Tax Information

  • Tax Annual Amount: 4959.01
  • Tax Year: 2025

General Information

  • Listing Terms: Cash,Conventional,FHA
  • Parcel Number: R361500
  • Property Condition: Updated/Remodeled
  • Property Type: Multi Family
  • Zoning: R-2

Interior

General Information

  • Basement: Crawl Space
  • Cooling: None
  • Heating: Wall Heater
  • Stories: 1

Exterior

Parking Information

  • Parking Features: Driveway,Off Street
  • Parking Total: 2.0

Lot Information

  • Road Surface Type: Paved
  • Water Source: Public Water

Building Exterior/Construction

  • Roof: Shingle

General Information

  • Number Of Units Total: 3
  • Sewer: Public Sewer

1218 NW LAKE ST Neighborhood

Community

97365 (NEWPORT) Demographics

46
Median Age
252
Population Density (per sq. mile)
38%
College Educated
$49,529
Estimated Median Income
2,693
Estimated Total Home Owners
2,073
Estimated Total Renters
57% / 43%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1218 NW LAKE ST Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1218 NW LAKE ST Market Data

Based on the last 30 days in this zip code

$620,101
Average List Price
$335
Average Price per Square Foot
4
Properties Sold
106
Average Days on Market
158
Properties for Sale
Calculations provided by Reliance Network

1218 NW LAKE ST History

Date Event Value Agent
2/5/2026Source: Regional MLS Added to Database
February 05, 2026