2425 Bay Avenue
2425 Bay Avenue
Hoquiam, WA 98550
$1,399,000
Price
24
Beds
12
Baths
6,048 Sq. Ft.
$231 / Sq. Ft.
6,048
Sq. Ft.
$231
per Sq. Ft.
Listing provided courtesy of Keller Williams Rlty Bellevue
Description
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...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.
- Listed by Michael Durham • Keller Williams Rlty Bellevue
Property Details for 2425 Bay Avenue
Community Name
Hoquiam
School DistrictHoquiam
ViewTerritorial
Number of Assigned Spaces14
Total Covered Parking0
Entry Date05-15-2024
Energy SourceElectric
SewerSewer Connected
Location
Listing Courtesy of Keller Williams Rlty Bellevue![]()
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LISTING UPDATED: 05/15/2024 04:12 PM
Property Details for 2425 Bay Avenue
| Status | Active |
|---|---|
| MLS # | 2237278 |
| Days on Market | 18 |
| Cumulative Days on Market | 18 |
| Taxes | $6,290 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1978 |
| Lot Size | 0.29 AC / 12,632 SF |
| County | Grays Harbor County |
Location
Listing Courtesy of Keller Williams Rlty Bellevue![]()
Add your commute
Building Information for 2425 Bay Avenue
Stories2Residences12Year Built1978Building Size-Lot Size0.29 AC / 12,632 SF
Payment Calculator
$8,159 per month
30 year fixed, 7.25% Interest
Principal and Interest
$7,635
Property Taxes
$524
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 2425 Bay Avenue
Summary
Location and General Information
- Style: 56 - 10+ Units
- Site Features: Cable TV, Deck
- Area: 197 - Hoquiam
- Block: 55
- Elementary School: Buyer To Verify
- Middle Or Junior School: Hoquiam Mid
- High School: Hoquiam High
- 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.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 14.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 0
Interior Features
- Fireplaces Total: 0
- Floor Covering: Vinyl, Carpet
- Features: Wall to Wall Carpet
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 24831
- Power Company: Grays Harbor PUD
- Sewer Company: City of Hoquiam
- Water Company: City of Hoquiam
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Zoning Class: Multi-Family
- First Right Of Refusal: false
- Possible Use: Multi-Family
- MLS Square Footage Source: Realist
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 24
Lot Information
- Lot Details: Alley, Corner Lot, Curbs, Paved, Sidewalk
- Lot Size Dimensions: 100x126x100x126
- Lot Number: 16 & 17
- Lot Size Source: Realist
- Parcel Number Free Text: 055205501600
- Calculated Square Footage: 6048
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 6048.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 14
- Number of Stories in Building: 2
- Vacancy Rate: 3
- Number Of Units Total: 12
- Units Below Grade: false
- Units In Building Total: 12
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 50876
- Gross Adjusted Income: 145209
- Gross Rent Multiplier: 9.35
- Gross Scheduled Income: $149,700
- Insurance Expense: $5,928
- Net Operating Income: $94,333
- Other Expenses: $13,827
- Total Monthly Income: 137364
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Rent Unit 1: $875.00
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 2
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Rent Unit 2: $1,050.00
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 3
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Rent Unit 3: $875.00
- Bedrooms Unit 3: 2
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 4
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Rent Unit 4: $1,050.00
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 5
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Rent Unit 5: $950.00
- Bedrooms Unit 5: 2
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 6
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: true
- Rent Unit 6: $1,050.00
- Bedrooms Unit 6: 2
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 7
- Range/Oven Unit 7: true
- Refrigerator Unit 7: true
- Dishwasher Unit 7: true
- Rent Unit 7: $1,000.00
- Bedrooms Unit 7: 2
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 8
- Range/Oven Unit 8: true
- Refrigerator Unit 8: true
- Dishwasher Unit 8: true
- Rent Unit 8: $1,275.00
- Bedrooms Unit 8: 2
- Bathrooms Unit 8: 1
Unit 9
- Name Unit 9: 9
- Range/Oven Unit 9: true
- Refrigerator Unit 9: true
- Dishwasher Unit 9: true
- Rent Unit 9: $875.00
- Bedrooms Unit 9: 2
- Bathrooms Unit 9: 1
Unit 10
- Name Unit 10: 10
- Range/Oven Unit 10: true
- Refrigerator Unit 10: true
- Dishwasher Unit 10: true
- Rent Unit 10: $1,275.00
- Bedrooms Unit 10: 2
- Bathrooms Unit 10: 1
Unit 11
- Name Unit 11: 11
- Range/Oven Unit 11: true
- Refrigerator Unit 11: true
- Dishwasher Unit 11: true
- Rent Unit 11: $1,200.00
- Bedrooms Unit 11: 2
- Bathrooms Unit 11: 1
Unit 12
- Name Unit 12: 12
- Range/Oven Unit 12: true
- Refrigerator Unit 12: true
- Dishwasher Unit 12: true
- Rent Unit 12: $1,000.00
- Bedrooms Unit 12: 2
- Bathrooms Unit 12: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 9000.0
- Leasable Area Units: Square Feet
Property History for 2425 Bay Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2425 Bay Avenue
Taxable ValueLand$53,550Additions$287,808Total$341,358
Tax Record2023$3,774 ($314 / month)
Home Facts
Total Finished SqFt6,048 SqFtAbove Ground SqFt6,048 SqFtStories1Lot Size12,632 SqFtStyleMulti-Family Dwelling (2-4)Year Built1978CountyGRAYS HARBORAPN055205501600
Schools near 2425 Bay Avenue
This home is within Hoquiam School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 3 | |||
| Public - | K to 1 | |||
| Public - | 4 to 5 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
Lincoln Elementary School PublicPK to 3 | ||
Emerson Elementary School PublicK to 1 | ||
Central Elementary School Public4 to 5 | ||
Hoquiam Middle School Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Keller Williams Rlty Bellevue
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.