Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    20-Unit Apartment Complex Title is generated by Realmo AI

    821 E Division, Forks, WA 98331

    View on Map
    Claim this Listing
    Pending
    $1,500,000

    MULTI_FAMILY - Forks, WA

    Property size:
    9,164 SF
    Lot size:
    1.77 Acres
    Added:
    May 16, 2022
    Days on Market:
    1482
    Last Refresh:
    Jun 5 at 2:06 am

    Property Features for 821 E Division

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Parking features
    Guest
    Security features
    Security Lighting
    Interior features
    Smoke Detector, Carbon Monoxide Detector
    Exterior features
    Bus Line, Comm. Area, Security Lighting, Sidewalk
    Appliances
    Dishwasher, Refrigerator, Range/Oven
    Standard status
    Pending
    APN
    1328091190000000
    Size
    9,164 SF
    Lot size
    1.77 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Description
    Lot 1 of Oxbow Short Plat recorded on October 1, 1987 in Volume 18 of Short Plats, page 5, under Auditor's File No. 596324, being a portion of the Northeast Quarter of the Northeast Quarter of Section 9, Township 28 North
    Tax Annual Amount
    7855

    Utilities

    Heating system
    Baseboard

    Building Details

    Year built
    1988
    Number of units
    20
    Flooring type
    Vinyl, Carpet
    Roof type
    Composition

    We can help!

    Listing Contact
    Rachel Breed

    Listing agent Rachel Breed

    Listing office IDEAL Real Estate 640 S Forks Ave., Sequim, WA

    Listing date May 16, 2022

    MLS# 360733 Listing URL

    Copyright © 2026 Olympic Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 20‑unit apartment complex with unit mix of 3x 3‑bedroom, 14x 2‑bedroom, and 3x 1‑bedroom units
    • Rents range from $655–$897 per month
    • On‑site coin‑op laundry facility
    • 31 paved parking spots and guest parking
    • City of Forks public water and sewer system
    • Built in 1988; composition roof, baseboard heating; smoke and carbon monoxide detectors

    Overview

    This 20-unit apartment complex includes three 3-bedroom units, fourteen 2-bedroom units, and three 1-bedroom units. The property operates an on-site coin-operated laundry facility. It has been kept up over time with professional accounting, maintenance, and groundskeeping. The community is supported by the City of Forks public water and sewer system.

    Located at 821 E Division in Forks, Washington, the building is near the Forks Aquatic Center. Residents benefit from 31 paved parking spots on-site.

    For buyers seeking a residential income property with unit mix diversity, this asset offers a balance of 2-bedroom and 3-bedroom layouts, alongside 1-bedroom units. The property’s maintained operations and established laundry amenity may appeal to investors and experienced operators looking to manage a stabilized small multifamily community. Financial information is available upon request with a non-disclosure agreement.
    Property Profile Location Intelligence

    Current Use by Public Records

    Oxbow Apartments Apartment Building

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Forks
    County
    Clallam
    State
    Washington
    Longitude
    -124.375629
    Latitude
    47.950655

    FAQs

    What type of property is this?
    Apartment building - Well-maintained multifamily property with a mix of two- and three-bedroom units and on-site coin-operated laundry.
    Where is this apartment building located?
    The property is located at 821 E Division Forks, WA.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 20‑unit apartment complex with unit mix of 3x 3‑bedroom, 14x 2‑bedroom, and 3x 1‑bedroom units; Rents range from $655–$897 per month; On‑site coin‑op laundry facility
    (360) 460-8303
    We can help!
    Listing Contact
    Rachel Breed
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    821 E Division, Forks, WA 98331
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!