Four-Duplex Apartment
106 Garden Hill Elma, WA 98541
For Sale
$1,600,000
Four duplexes totaling eight two-bedroom units with private one-car garages and newer roofs.
Property Size6,688 SF
Price / SF$239.23
Days on Market26
Property Features for 106 Garden Hill
General Information
Standard status
Active
Size
6,688 SF
Property subtype
Multi-family
Building Details
Year Built
1978
Listing Agency:
Abbey Realty Inc
Listed By:
Joshua Abbey
(253) 564-6211
Source:
Century21northhomes
Added: Jul 5
Changed: Jul 30
Last Checked: Jul 30 at 12:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Abbey Realty Inc
Investment Insights
Based on property information with market context.
This apartment building configuration features four duplexes, offering eight two-bedroom, one-bath units. Each unit includes a private one-car garage, supporting tenant privacy and straightforward day-to-day management. The property was built in 1978.
Roofing has been recently updated, with roofs approximately 5 years old, helping minimize near-term capital expenditures. The owner highlights a cap rate of 6.7%.
Located in Elma, Washington, the property is positioned for a small-town lifestyle with access to local amenities and outdoor recreation. Olympia is approximately 30 miles away, providing a practical commute option while keeping day-to-day needs close to home.
Roofing has been recently updated, with roofs approximately 5 years old, helping minimize near-term capital expenditures. The owner highlights a cap rate of 6.7%.
Located in Elma, Washington, the property is positioned for a small-town lifestyle with access to local amenities and outdoor recreation. Olympia is approximately 30 miles away, providing a practical commute option while keeping day-to-day needs close to home.
Key Highlights
- Four duplexes totaling eight units
- Eight two‑bedroom, one‑bath unit layout
- Private one‑car garage for each unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.3k | $16.20 |
| − Vacancy | −$5.4k | −$0.81 |
| EGI | $102.9k | $15.39 |
| − OpEx | −$46.3k | −$6.93 |
| NOI | $56.6k | $8.46 |
6,688 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$808.7K
$707.6K – $943.5K
NOI $56,611 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,052 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Four duplexes totaling eight two-bedroom units with private one-car garages and newer roofs.
Where is this apartment building located?
The property is located at 106 Garden Hill Elma, WA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Four duplexes totaling eight units; Eight two‑bedroom, one‑bath unit layout; Private one‑car garage for each unit
