814 Perry AveHoquiam, WA 98550

Property Details for 814 Perry Ave

Year built

1911

Property size (Sq ft)

1,680 SF

Property type

Residential income homes

Description

This Grays Harbor County, Washington property presents a compelling investment opportunity. Located at 814 Perry Ave, Hoquiam, WA 98550, this multifamily property consists of two buildings totaling 1,680 square feet on a 5,184 square foot lot (APN: 055401401800). Built in 1911, the property features a charming main house with three bedrooms and one and three-quarter bathrooms, boasting a covered front porch, fresh paint, new flooring, a wood stove, and baseboard/wall heating. The well-insulated main house offers ample parking for up to four vehicles. A detached single-car garage with additional storage is also included. The second building is a one-bedroom, one-level home currently rented for $750 per month to a long-term tenant. The main house is vacant and ready for immediate occupancy. A potential rental income of $1500 per month is estimated for the main house and garage. The seller will install a new roof on the main house and garage prior to closing. The property offers a strong 8.82% cap rate, with a net operating income (NOI) of $21,960 and an asking price of $249,000 ($124,500 per unit). This is an excellent opportunity for an owner-user to live in one unit while generating income from the other. Showings for the occupied unit require advance notice.

Location Insight

City

Hoquiam

County

Grays Harbor

State

Washington

Latitude

46.9926

Longitude

-123.887

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