Two-Building 8-Unit Apartment
For Sale
Contact for pricing
900 W Heron St, Aberdeen, WA 98520
Fully occupied apartment buildings with two-bedroom layouts, shared laundry, and on-site parking near shopping, dining, and public transportation.
Property Size6,822 SF
Price / SF$153.91
Days on Market540
Property Features for 900 W Heron St
General Information
Standard status
Active
Size
6,822 SF
Property subtype
Multifamily
Zoning
LI
Occupancy
100%
Net Operating Income
$123,513
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Additional Details
Public Transit
Yes
Amenities
shared laundry area
Building Details
Year Built
1978
Buildings
2
Stories
2
Units
8
Listing Agency:
Compass
Listed By:
Lisa Le · License #123519
(425) 242-6440
Source:
Crexi
Added: May 5, 2025
Changed: Oct 25
Last Checked: Oct 24 at 4:06PM
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 Compass
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Investment Insights
Based on property information with market context.
This 6,822-square-foot apartment property consists of two 4-plex buildings with eight fully occupied units. Each unit includes 2 bedrooms and 1 bathroom, with two upper units and two lower units in each building. Built in 1978, the property also provides a shared laundry area and parking on a corner lot. The current use is transitional housing, with the existing configuration also identified for potential conversion to market-rate rentals.
The property is located at 900 W Heron St in Aberdeen, Washington, near shopping, dining, and public transportation. LI zoning is reported for the site. The combination of two separate buildings, consistent unit layouts, and shared resident amenities provides a straightforward multifamily configuration.
The property is located at 900 W Heron St in Aberdeen, Washington, near shopping, dining, and public transportation. LI zoning is reported for the site. The combination of two separate buildings, consistent unit layouts, and shared resident amenities provides a straightforward multifamily configuration.
Key Highlights
- Two 4‑plex buildings with 8 total units
- All 8 units are fully occupied
- Each unit offers 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,745
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,900
$1.2M
Cap Rate 7%
$824,929
$824.9K
Cap Rate 9%
$641,611
$641.6K
Market Conditions
NOI Build-Up for 6,822 SF
Gross rent
$110.5K $16.20/SF
− Vacancy
−$5.5K −$0.81/SF
EGI
$105.0K $15.39/SF
− OpEx
−$47.2K −$6.93/SF
NOI
$57.7K $8.46/SF
Area
Grays Harbor County, WA
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,900
Cap Rate 7%
$824,929
Cap Rate 9%
$641,611
Alternative Uses
Best Use
Apartment 5plus
$824.9K
$721.8K – $962.4K
NOI $57,745 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,637 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
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Business Placement
Demographics for 98520, WA
24,086
Population
9,333
Households
2.6
Avg Household Size
41
Median Age
14%
College-Educated
89%
High-School Grad
217.5 sq mi
ZIP Area
111
Density / Sq Mi
$59,744
Median Household Income
$34,591
Median Earnings
$1,034
Median Rent
$237,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment buildings with two-bedroom layouts, shared laundry, and on-site parking near shopping, dining, and public transportation.
Where is this apartment building located?
The property is located at 900 W Heron St Aberdeen, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two 4‑plex buildings with 8 total units; All 8 units are fully occupied; Each unit offers 2 bedrooms and 1 bathroom
