2425 Bay Ave
Hoquiam WA 98550
2425 Bay Avenue
2425 Bay Ave Hoquiam WA 98550
Listing #: 684402 | Status: Available | Last Modified: 9/24/2024 |
For Sale
- Phone:(425) 508-0934
- Email:Michael@360-re.com
- Office Name:KW Commercial GSWA MCI LLC
- Office Phone:(425) 454-0911
- Office Website:
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,199,000.0
- $/SF$ 109.0
- $/Unit$ 1,199,000.0
- Listing StatusAvailable
- Days on Market108
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income149,700
- Vacancy Factor %0.00%
- Operating Expenses50,876
- Net Operating Income98,824
- CAP Rate 8.24 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Sanitary SewerCity
- Water
- Electricity
- Storm SewerCity
- Gas Lines
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 8.24 %
- Building StatusExisting
- # of Buildings1
- # of Floors1
- # of Units
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF11000
- Net Rentable Area0
- Total Office SF
- Largest Contiguous SF
- Lot SF12632
- Acres0.29
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyGrays Harbor
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaGrays Harbor
- Tax ID #055205501600
- Additional Parcels
- Zoning
- Year Built1978
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Bay Ave 12 unit
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.
