2425 Bay AveHoquiam, WA 98550
For Sale
$1,199,000
12-Unit Value-Add Multifamily
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 92
Highlights
- 12-unit apartment building (8-unit & 4-unit structures) on two tax parcels totaling 12,632 sq ft.
- 10,400 net rentable sq ft; twelve 2-bedroom, 1-bathroom units.
- 100% occupancy (as of 01/01/2024); $98,824 current NOI, $132,724 pro-forma NOI.
- 8.24% current cap rate, projected 11.07% pro-forma cap rate; asking price $1,199,000 ($99,916.67 per unit).
- 14 parking spaces; convenient location near public transit, shopping, beaches, and Grays Harbor College; below-market rents offer significant upside potential.
Property Details for 2425 Bay Ave
- Property type
- Multifamily properties, Apartment buildings
- Square Feet
- 10,800 SF
- Class
- B
- Year Built/Renovated
- 1978/2020
- Buildings
- 2
- Stories
- 2
- Units
- 12
Location Insight
- City
- Hoquiam
- County
- Grays Harbor
- State
- Washington
- Latitude
- 46.972496175048
- Longitude
- -123.86789101726
2425 Bay Ave, Hoquiam, Washington
Nearby Similar for Sale
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