2425 Bay Ave - Apartments FOR SALE


Hoquiam, WA 98550
$1,199,000 USD
425-508-0934
2425 Bay Ave, Hoquiam, WA for Sale
$1,199,000 USD
Apartments - FOR SALE
1/5
null | 8.24% Cap Rate

2425 Bay Ave
Hoquiam, WA 98550


HIGHLIGHTS

  • Walking distance to shopping
  • Located on transit line
  • Close to schools

OVERVIEW

This property comprises 12 two-bedroom, one-bath units, split between an 8-unit building and a 4-unit building on two tax parcels. Current rents are below market value, providing excellent potential for increased income with some like units already collecting $1275. The pro forma cap rate is estimated to exceed 10%!! with just some minor upgrades. It is conveniently located near public transit and shopping centers, enhancing tenant appeal. Additionally, its proximity to ocean beaches and Grays Harbor College adds to its attractiveness for potential renters. This is a prime opportunity for all investors to add to their portfolio.

FOR SALE DETAILS

PRICE

$1,199,000 USD

PRICE/SF

$95 USD /SF

# OF UNITS

12

PRICE/UNIT

$99,917

CAP RATE

8.24%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bay Ave Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

-

APN/PARCEL ID

055205501600

ASK ABOUT THIS PROPERTY

Michael DurhamKeller Williams-BellevueMore Info
425-508-0934

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Michael DurhamKeller Williams-BellevueMore Info
425-508-0934

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.