Bay Ave Apartments | 2425 Bay Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Bay Ave Apartments 2425 Bay Ave
12 Unit Apartment Building $1,699,547 CAD ($141,629 CAD/Unit) 8.24% Cap Rate Hoquiam, WA 98550
Investment Highlights
- Walking distance to shopping
- Close to schools
- Located on transit line
Executive Summary
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.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,699,547 CAD | Apartment Style | Low Rise |
| Price Per Unit | $141,629 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 8.24% | Building Size | 12,600 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1978/2020 |
| Price | $1,699,547 CAD |
| Price Per Unit | $141,629 CAD |
| Sale Type | Investment |
| Cap Rate | 8.24% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 12,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2020 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $1,524 CAD | - |
1 of 1
PROPERTY TAXES
| Parcel Number | 055205501600 | Total Assessment | $480,086 CAD |
| Land Assessment | $75,313 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $404,773 CAD | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
055205501600
Land Assessment
$75,313 CAD
Improvements Assessment
$404,773 CAD
Total Assessment
$480,086 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023 Payable 2024
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Keller Williams-Bellevue
Bay Ave Apartments | 2425 Bay Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.