2425 Bay Avenue Hoquiam, WA $ 1,399,000
2425 Bay Avenue
$ 1,399,000
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2425 Bay Avenue

Hoquiam, WA, 98550
$ 1,399,000
Baths0.0 Sq 6,048

Monthly Estimate*

$ 9,298

Listed by Keller Williams Rlty Bellevue
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Studio

Multi-Family Home for sale in Hoquiam, WA

for $1,399,000. This 6,048 square foot home was built in 1978 on a lot size of 0.29.

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.

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Multi-Family Active

Price

$ 1,399,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 6,290

Style

10+ Units

Lot Size

0.29

Year Built

1978

Town/City

Hoquiam

County/Region

Grays Harbor

MLS | Web ID

2237278

Features
General
Interior Features Wall to Wall Carpet
Sewer Sewer Connected
Heating Baseboard
Cooling None
Possession Closing Tenant's Rights
Roof Composition
Exterior Features Wood
HOA 0
Year Built 1978
View Territorial
Property SubType Multi-Family
Tax Year 2024
Building Name Ontario
County Grays Harbor
Net Operating Income 94333
Insurance Expense 5928
New Construction N
Property Type Residential Income
HOA / Comm Assn N
Subdivision Name Hoquiam
Possible Use Multi-Family
Special Listing Conditions None
Status Active
Directions From Hoquiam Simpson Ave to Right on Ontario to Right on Pacific Ave to Left on 25th to Right at alley before Port Dock. From Aberdeen Sumner Ave to Left on Ontario follow the above directions.
High School Hoquiam High
City Hoquiam
Buyer Agent Compensation 2.5
View Y/N Y
Senior Community Y/N N
High School District Hoquiam
Open Parking Spaces 14
NumberOfUnitsTotal 12
MLS Area 197 - Hoquiam
Lot Size Units Square Feet
Lot Size Square Feet 12632
Waterfront Y/N N
Carport Spaces 0
Carport Y/N N
Street Name Bay
Listing Terms Cash Out Conventional
Elementary School Buyer To Verify
Tax Annual Amount 6290
Electric Expense 0
Fuel Expense 0
Middle/Junior High School Hoquiam Mid
Public Remarks 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
Leasable Area 9000
Structure Type Multi Family
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Water Company City of Hoquiam
Units Below Grade false
Units In Building Total 12
Zoning Class Multi-Family
Water Sewer Garbage 24831
Property Style 56 - 10+ Units
Cap Rate 6.7
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Interior
Flooring Vinyl Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Street Suffix Avenue
Bedrooms Possible 0
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Exterior
Lot Features Alley Corner Lot Curbs Paved Sidewalk
Water Source Public
Total Parking 14
Foundation Details Poured Concrete
Building Area Total 6048
Lot Dimensions 100x126x100x126
Lot Size Acres 0.29
Covered Spaces 0
Open Parking Y/N Y
Irrigation Water Rights Y/N N
Site Features Cable TV Deck
Parking Uncovered Spaces 14
Lot Number 16 & 17
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Internal Only
OriginalMLSID NWM2237278
Street Number 1 2425
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* Excluded Features
List By
Michael Durham

Listing Agent

Keller Williams Rlty Bellevue

Broker

Affordability Calculator

$9,822
Per Month
95%
5%
0%
Monthly Principal & Interest
$9,298
Monthly Property Taxes
$524
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
3100354 Elementary School
257419 Middle School
Hoquiam High High School
Pricing History
DatePricePrice ChangeDescription
5/15/2024$1,399,000 Listed Price

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2425 Bay Avenue, Hoquiam, WA, 98550 is a Multi-Family Home for sale at $1,399,000 with 6,048 sqft and a lot size of 0.29. 2425 Bay Avenue is a studio with 0.0 baths and was built in 1978. The property's zip code is 98550 which is in Hoquiam, WA