306 W 1st St - Apartments FOR SALE


Port Angeles, WA 98362
$1,299,950 USD
360-477-9665
306 W 1st St, Port Angeles, WA for Sale
$1,299,950 USD
Apartments - FOR SALE
1/18
null | 5.22% Cap Rate

306 W 1st St
Port Angeles, WA 98362


OVERVIEW

Own a piece of Port Angeles history! Bayview Apartments has been a landmark in downtown Port Angeles since 1921. With 12 units there is constant cashflow and these units are in high demand and rent instantly. The yearly income is over $148K and the current owners have spent the last seven years going through the units and doing repairs and upgrades. At this point, the building is in great shape and future expenses should be minimal. The unfinished bottom story provides an opportunity to expand the building by 50% without a lot of expense meaning that cashflow can easily increase with some additional investment.

FOR SALE DETAILS

PRICE

$1,299,950 USD

PRICE/SF

$110 USD /SF

# OF UNITS

12

PRICE/UNIT

$108,329

CAP RATE

5.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bayview Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

Commerical

APN/PARCEL ID

063000003403

ASK ABOUT THIS PROPERTY

Joanne SoderlindIdeal Real EstateMore Info
360-477-9665

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Joanne SoderlindIdeal Real EstateMore Info
360-477-9665

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