11-Unit Apartment
For Sale
$949,900
201 F, Aberdeen, WA 98520
Fully occupied property with updated building systems, on-site laundry, and off-street parking.
Property Size7,442 SF
Price / SF$127.64
Days on Market85
Property Features for 201 F
General Information
Standard status
Active
Size
7,442 SF
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
9.09%
Gross Income
$123,684
Units
Unit Mix
1 x 1BR/1BA, 10 x studio
Multifamily Units
11
Amenities
coin-operated laundry room
off-street parking
oversized walk-in closets
Building Details
Year Built
1925
Listing Agency:
Spivey Realty Group,LLC
Listed By:
Kevin Spivey
(253) 604-6000
Source:
Skylineproperties
Added: Jul 10
Changed: Oct 1
Last Checked: Oct 1 at 11:59AM
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 Spivey Realty Group,LLC
Investment Insights
Based on property information with market context.
Built in 1925, this 11-unit apartment property contains approximately 7,442 square feet and is arranged as one one-bedroom, one-bath unit alongside ten studio apartments. Many units include oversized walk-in closets. The building has undergone improvements to electrical, plumbing, flooring, and water heaters, with regular professional cleaning and ongoing maintenance. A coin-operated laundry room serves residents, and off-street parking is available.
The property occupies a corner lot near downtown in Aberdeen. It is professionally managed and fully occupied, with a reported 9.09% cap rate. The unfinished attic and existing laundry area have been identified as spaces that could support two additional units through reconfiguration and completion of the attic area.
The property occupies a corner lot near downtown in Aberdeen. It is professionally managed and fully occupied, with a reported 9.09% cap rate. The unfinished attic and existing laundry area have been identified as spaces that could support two additional units through reconfiguration and completion of the attic area.
Key Highlights
- 11 units totaling approximately 7,442 square feet
- Unit mix includes 1 one‑bedroom/one‑bath unit and 10 studio units
- Fully occupied and professionally managed
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,993
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,259,860
$1.3M
Cap Rate 7%
$899,900
$899.9K
Cap Rate 9%
$699,922
$699.9K
Market Conditions
NOI Build-Up for 7,442 SF
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.
Gross rent
$120.6K $16.20/SF
− Vacancy
−$6.0K −$0.81/SF
EGI
$114.5K $15.39/SF
− OpEx
−$51.5K −$6.93/SF
NOI
$63.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,259,860
Cap Rate 7%
$899,900
Cap Rate 9%
$699,922
Alternative Uses
Best Use
Apartment 5plus
$899.9K
$787.4K – $1.05M
NOI $62,993 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.80M – $2.39M
NOI $143,601 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with updated building systems, on-site laundry, and off-street parking.
Where is this apartment building located?
The property is located at 201 F Aberdeen, WA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: 11 units totaling approximately 7,442 square feet; Unit mix includes 1 one‑bedroom/one‑bath unit and 10 studio units; Fully occupied and professionally managed
