301 W 3rd St

—
Beds
—
Baths
10,000 Sq. Ft.
$110 / Sq. Ft.
10,000
Sq. Ft.
$110
per Sq. Ft.

Description

Introducing a 14-unit apartment building comprising 11 one-bedroom units, 2 studios, and 1 two-bedroom residence. Recently upgraded with a new roof and siding. This building has great cash flow and minimal vacancies. Currently below market rates, rents present an opportunity for significant increase through cosmetic upgrades. Unlock the full earning potential of this prime investment opportunity located just 60 minutes from Olympia, WA. 9.2 Cap based on 2 vacancies being filled which we have applications...Introducing a 14-unit apartment building comprising 11 one-bedroom units, 2 studios, and 1 two-bedroom residence. Recently upgraded with a new roof and siding. This building has great cash flow and minimal vacancies. Currently below market rates, rents present an opportunity for significant increase through cosmetic upgrades. Unlock the full earning potential of this prime investment opportunity located just 60 minutes from Olympia, WA. 9.2 Cap based on 2 vacancies being filled which we have applications in hand.
  1. Listed by Michael Durham • Keller Williams Rlty Bellevue
    P: (425)-454-0911 michael@360-re.com

Property Details for 301 West 3rd Street

Community Name
Aberdeen
School District
Aberdeen
View
Territorial
Number of Assigned Spaces
14
Total Covered Parking
0
Entry Date
02-22-2024
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 09/05/2024 05:48 AM

Property Details for 301 West 3rd Street

StatusSold
MLS #2202164
Days on Market10
Cumulative Days on Market10
Taxes$6,598 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.15 AC / 6,534 SF
CountyGrays Harbor County

Location

Listing Courtesy of Keller Williams Rlty Bellevue

Sold By NW Elite Home Brokers

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Building Information for 301 West 3rd Street

Stories2Residences14Year Built1923Building Size-Lot Size0.15 AC / 6,534 SF

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$6,006 per month

30 year fixed, 6.36% Interest

Principal and Interest

$5,457

Property Taxes

$550

HOA Dues

$0

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Property Information for 301 West 3rd Street

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 198 - Aberdeen
  • Block: Wax & Benns 02
  • Elementary School: Robert Gray Elem
  • Middle Or Junior School: Miller Jnr High
  • High School: J M Weatherwax High
  • Directions: North on Broadway to 3rd, left on West 3rd to 301 W 3rd. Building on left.
  • 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
Interior Features
  • Floor Covering: Vinyl, Carpet
  • Features: Wall to Wall Carpet
  • Amenities: Coin Op Laundry
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Wall Unit(s)
  • FIRPTA: No
Exterior Features
  • Exterior: Wood, Wood Products
  • Roof: Flat
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 16429
  • Power Company: Grays Harbor PUD
  • Sewer Company: City of Aberdeen
  • Water Company: City of Aberdeen
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Block, Poured Concrete, Slab
  • Zoning Class: Multi-Family,Residential
  • First Right Of Refusal: false
  • Possible Use: Multi-Family, Residential
  • MLS Square Footage Source: Realist
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 16
Lot Information
  • Lot Details: Alley, Cul-De-Sac, Curbs, Paved, Sidewalk
  • Lot Size Dimensions: 47x129x48x129
  • Lot Number: 1
  • Lot Size Source: Realist
  • Parcel Number Free Text: 029404700100
  • Calculated Square Footage: 10000
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 10000.0
  • 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: 5
  • Number Of Units Total: 14
  • Units Below Grade: false
  • Units In Building Total: 14
Financing / Income and Expenses
  • Electric Expense: $7,712
  • Total Expenses: 52689
  • Gross Adjusted Income: 153900
  • Gross Rent Multiplier: 6.8
  • Gross Scheduled Income: $162,000
  • Insurance Expense: $4,294
  • Net Operating Income: $101,211
  • Other Expenses: $17,656
  • Total Monthly Income: 13500
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 10000.0
  • Leasable Area Units: Square Feet

Property History for 301 West 3rd Street

DateEvent & SourcePriceAppreciation
Apr 30, 2024

Sold

NWMLS #2202164

$1,095,000—
Apr 28, 2024

Sold (Public Record)

Public Record #1531686071

$1,094,967

+25.8% / yr

Mar 3, 2024

Pending

NWMLS #2202164

—
DateEvent & SourcePrice
04/30/2024

Sold

NWMLS #2202164

$1,095,000
04/28/2024

Sold (Public Record)

Public Record #1531686071

$1,094,967

+25.8% / yr

03/03/2024

Pending

NWMLS #2202164

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For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 301 West 3rd Street

Taxable ValueLand$39,695Additions$960,450Total$1,000,145
Tax Record2025$8,990 ($749 / month)
Home Facts
Total Finished SqFt10,000 SqFtAbove Ground SqFt10,000 SqFtStories2Lot Size6,534 SqFtStyleMulti-Family Dwelling (2-4)Year Built1923CountyGRAYS HARBORAPN029404700100

Schools near 301 West 3rd Street

This home is within Aberdeen School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Mcdermoth Elementary School
PublicK to 5

Miller Junior High School
Public6 to 8

J M Weatherwax High School
Public9 to 12

Grays Harbor Academy
PublicK to 12

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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Listing Courtesy of Keller Williams Rlty Bellevue

Based on information submitted to the MLS GRID as of 09/05/2024 05:48 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.