OMC Parts Drawing *Cobra *Mercruiser *Alpha SEI Outdrives
OMC Cobra outdrive upper/lower unit
OMC Cobra upper housing
Remanufactured sterndrive repair prices
Updated May 17 2026
- Replaces OMC numbers 986381, 986380, 986382 and 986844
- Used OMC Cobra outdrive for sale fully re-manufactured with
new parts and 1 year warranty - Compatible with Ford 2.3L, 5.0L 302, 5.8 liter 351 and Chevy 3.0L, 5.0L 305, 5.7L 350 and 7.5 liter 460
- Housing comes sand blasted, primed and painted with OMC charcoal metallic OEM color paint
- Click here for instructions on sending your Cobra outdrive to us for repair
- *$360 core deposit required – refund upon return of old unit
- Please see parts OMC cobra parts break down page for additional part pricing.
- See below for repair costs
OMC upper gearcase Cobra remanufactured 986381-986382-986844-986380
Remanufactured and rebuilt prices below - core deposit of $360 required on top of price
21-16
5.7L 350 Chevy or 5.8L 351 Ford V8
21-19
4.3.L 262 Chevy V6
21-17
5.0L 350 Chevy V8 or 5.8L 351 Ford V8 EFI or 7.5L 460 Ford
21-18
4 cylinder 1986 - 2.5L or 4 cylinder 1986-1989 - 3.0L or 5.0L 302 Ford V8
21-21
2.3L Ford 4 cylinder 1986 - 1987
*Includes all new parts
*Includes all new parts
*Includes used refurbished gears and water pump shaft
$1668.89 CDN
*Includes used refurbished gears and water pump shaft
Parts included :
Rebuilt upper gearcase
OMC Cobra Gears all ratio
4 Bearings
2 Pinion Nut
Yoke drive shaft
Seal kit
Centering cone
U-joint nut
Outdrive installation gasket
Water pump kit with impeller
Water pump housing and gaskets
Gasket OEM 911698
O ring OEM 911700
Water pump adapter o ring OEM 909316
pump adaptor oil seal OEM 916058
Gasket OEM 911702
Gasket in water pump
Wear plate OEM 911703
pump liner OEM 911844
pump seal OEM 911704
Mounting gasket OEM 915840
Gasket in 39630
Water cover gasket OEM 911733
81100 Dip stick gasket OEM 303067
81100 O ring in seal kit
12405 pump housing
23202 Retainer
21111 Cover nut
27800 Bearing Carrier pinion gear
27900 Water pump adapter
27920 bearing carrier for u joint
28404 cobra cover o ring
28406 Cover assembly
12661 Thrust plate port
12662 Thrust plate star board side
23360 OMC Cobra shim
23360 OMC Cobra shim
28408 Cover assembly
21773 Retainer ring
Rear shim 0.003 to ,015″
47010 Vent hose
5/16 bolts 1-1/4 inch long 6 units
22387 Screw
21732 omc cobra dip stick
23371 Cobra upper rear shim
Repair Prices Below
(Includes all labor, bearings, seals, and water pump assembly)
Please see our used parts break down page for additional used parts and pricing.
Basic OMC Cobra stern drive repair:
$595.00 USD
$743.89 CDN
Customers who ordered used OMC Cobra outdrives also ordered the following items
$1993.00 CDN new prop shaft and detent update
Parts in lower unit
87656 Lower gear case OMC Cobra seal kit 5.0, 5.7, 5.8 liter
21610 4-1/4 inch large hub pinion bearing
22880 Pinion bearing 4 cylinder OEM 384195
21885 Screen
22363 Screw
21679 Washer
27720 Shift detent
27750 Cover seal assembly
45200 O-ring in seal kit
22375 Screw
33960 Gasket (Included in seal kit)
86620 Oil seal (Included in seal kit)
12960 Tube
12961 Guide 27760 Water passage housing
21180 Nut (5 units)
21490 Washer Included in seal kit
33970 Gasket Included in seal kit
81280 O-ring Included in seal kit
87655 Lower gearcase seal kit for 2.3 liter, 3.0L 4 cylinder (1986 – 1989)
22362 Screw
27770 Bearing housing
81380 O ring ( In seal kit )
235X0 Shim .003″ – .005″
21645 Thrust washer
16330 Thrust bearing
12962 Plug
22406 Lower drive shaft
11190 Nut
Pinion-forward-reverse gear set
12774 Anode
22365 Screw
21674 Washer
22366 Screw
22367 Screw
12776 Anode
22368 Screw
21731 Draining screw
22371 Screw
87654 Upper gear case seal kit 4 cyl. V6-V8 1986 to 1993
P/N 87654O
OMC Cobra Seal Kit
$41.95 US
P/N 87654 $ 70.89 CDN
90295 Removal and installation tool
# 90295 $86.95 us
# 90295 $183.89 us
