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Listed by:Better Properties Grays Harbor • Thomas Hedlund
$ 800,000
Est. payment /mo
Active
517 Emerson Avenue Hoquiam, WA 98550
11 Beds
9 Baths
6,360 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,360 sqft
Price per Sqft $125
Subdivision West Hoquiam
MLS Listing ID 2486273
Style 55 - 5-9 Units
Bedrooms 11
Year Built 1906
Annual Tax Amount $6,600
Lot Size 10,454 Sqft
Property Sub-Type Multi Family
Property Description
PRICED TO SELL AT $800,000! Now $318K below original list. Turn-key 9-unit investment property offering an approx. 11.1% cap rate at just $88,900 per door. A true cash-flow opportunity rarely found anywhere along the I-5 corridor. Most units have been updated, so a new owner steps into a stabilized, income-producing building rather than a renovation project. One unit is finishing a refresh and will be rent-ready soon. Mix of 1- and 2-bedroom apartments, each with its own kitchen and bath. On-site coin-op laundry adds a second income stream beyond rent. Built-in upside for value-add investors: landlord storage spaces could be converted to rentable storage units or an additional 1-bedroom apartment for a 10th door. One 2-bedroom has a floorplan that lends itself to adding a bedroom for increased cash flow. Laundry can be upgraded to card or app-pay to lift ancillary income. Set on a 10,454 sq ft lot in Hoquiam's R-2 High Density Residential zone, close to schools, services, shopping and major routes, with easy access to Aberdeen and all of Grays Harbor. Tenants value the convenience, which helps keep vacancy low. Well-kept 9-unit buildings at a double-digit cap rate don't come along often. The price has been adjusted to meet the market. Rent roll, T-12 and expense summary available to qualified buyers. Buyer to verify all conversions with the City of Hoquiam. Schedule your tour today!
Location
State WA
County Grays Harbor
Area 197 - Hoquiam
Interior
Flooring Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Composition
Building
Lot Description Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Hoquiam
Others
Senior Community No
Acceptable Financing Cash
Listing Terms Cash
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
NEARBY SCHOOLS & PROPERTIES
Jonathan Pearlstein
Global Real Estate Advisor / Designated Broker License ID: 17157