1031 Discovery Avenue Southeast
1031 Discovery Avenue Southeast
Ocean Shores, WA 98569
$3,500,000
Price
—
Beds
12,018 Sq. Ft.
$291 / Sq. Ft.
12,018
Sq. Ft.
$291
per Sq. Ft.
Listing provided courtesy of Windermere R.E. Ocean Shores
Description
Discovery Shores is a 26 unit apartment complex located across from the OS Interpretive Center and the OS Marina (currently not operating) at the South end of Ocean Shores. It is a short distance to the OS Community Club. The owner purchased this property in 2020 and invested over $500,000 in deferred maintenance, unit conversions and upgrades. The South end of OS is experiencing substantial growth led by Oyhut Bay, a walkable community nearby. At some point there will be a new owner developer of...Discovery Shores is a 26 unit apartment complex located across from the OS Interpretive Center and the OS Marina (currently not operating) at the South end of Ocean Shores. It is a short distance to the OS Community Club. The owner purchased this property in 2020 and invested over $500,000 in deferred maintenance, unit conversions and upgrades. The South end of OS is experiencing substantial growth led by Oyhut Bay, a walkable community nearby. At some point there will be a new owner developer of the marina and the value of this property will adjust upwards. Tenants can kayak on the freshwater canal system that fronts the property. Buyer could also purchase The Constitution Apt's, listed at $4.8 M. Total for both is $7.95 Million.
- Listed by Jim Donahoe • Windermere R.E. Ocean Shores
Property Details for 1031 Discovery Avenue Southeast
Community Name
Ocean Shores
School DistrictNorth Beach
ViewBay, Canal, Territorial
Number of Assigned Spaces39
Total Covered Parking0
Entry Date02-20-2024
Energy SourceElectric
SewerSewer Connected
Location
Listing Courtesy of Windermere R.E. Ocean Shores![]()
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LISTING UPDATED: 02/23/2024 01:08 PM
Property Details for 1031 Discovery Avenue Southeast
| Status | Active |
|---|---|
| MLS # | 2202083 |
| Days on Market | 73 |
| Cumulative Days on Market | 99 |
| Taxes | $11,980 / year |
| HOA Fees | $165 / year |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1968 |
| Lot Size | 1.28 AC / 55,757 SF |
| County | Grays Harbor County |
Location
Listing Courtesy of Windermere R.E. Ocean Shores![]()
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Building Information for 1031 Discovery Avenue Southeast
Stories2Residences-Year Built1968Building Size-Lot Size1.28 AC / 55,757 SF
Payment Calculator
$20,113 per month
30 year fixed, 7.25% Interest
Principal and Interest
$19,101
Property Taxes
$998
HOA Dues
$14
The Payment Calculator is for illustrative purposes only.
Property Information for 1031 Discovery Avenue Southeast
Summary
Location and General Information
- Style: 56 - 10+ Units
- Site Features: Dock
- Area: 194 - Ocean Shores
- Elementary School: Ocean Shores Elem
- Middle Or Junior School: North Beach Mid
- High School: North Beach High
- Community Features: Golf
- Directions: Drive into Ocean Shores on Pt. Brown Ave. Continue 5+ miles South. Turn left on Discovery Ave. Discovery Shores will be on your right at the corner of Mt. Olympus Ave.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: Yes
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 39.0
- Open Parking: Yes
Interior and Exterior Features
Interior Features
- Floor Covering: Laminate, Vinyl
- Features: Laminate
- Amenities: Coin Op Laundry
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard, Wall Unit(s)
- FIRPTA: No
Exterior Features
- Exterior: Wood Products
- Roof: Composition
- Waterfront Description: Canal Access
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 16705
- Power Company: GH PUD
- Sewer Company: City of Ocean Shores
- Water Company: City of Ocean Shores
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Slab
- Zoning Class: Business,Commercial,Multi-Family,Office,Retail
- First Right Of Refusal: false
- Possible Use: Business, Commercial, Multi-Family, Office, Retail
- MLS Square Footage Source: Appraisal
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 15
Lot Information
- Lot Details: Community Golf Course, Paved, Sidewalk
- Lot Size Dimensions: 200 x 200
- Lot Size Source: GH County
- Parcel Number Free Text: 092900060203
- Building Condition: Good
- Calculated Square Footage: 12018
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 12018.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 39
- Number of Stories in Building: 2
- Vacancy Rate: 0
- Number Of Units Total: 0
- Units Below Grade: false
- Units In Building Total: 26
Financing / Income and Expenses
- Electric Expense: $13,247
- Total Expenses: 137774
- Gross Adjusted Income: 354227
- Gross Rent Multiplier: 9.88
- Gross Scheduled Income: $354,227
- Insurance Expense: $4,667
- Net Operating Income: $216,453
- Other Expenses: $91,175
- Total Monthly Income: 29518
- Fuel Expense: $0
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 11656.0
- Leasable Area Units: Square Feet
Property History for 1031 Discovery Avenue Southeast
| 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 1031 Discovery Avenue Southeast
Taxable ValueLand$194,978Additions$541,100Total$736,078
Tax Record2023$4,812 ($401 / month)
Home Facts
Lot Size55,757 SqFtStyleMulti-Family Dwelling (2-4)CountyGRAYS HARBORAPN092900060203
Schools near 1031 Discovery Avenue Southeast
This home is within North Beach School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 5 |
Rating | School | Distance |
|---|---|---|
Ocean Shores Elementary School PublicPK to 5 | ||
North Beach Middle School Public6 to 8 | ||
North Beach High School Public9 to 12 | ||
Pacific Beach Elementary School PublicPK to 5 |
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. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.
Listing Courtesy of Windermere R.E. Ocean Shores
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.