Eight-Unit Apartment
For Sale
$650,000
220 W 4th Street, Aberdeen, WA 98520
Updated units, on-site coin laundry, cable TV, and high-speed internet serve the fully occupied apartment property.
Property Size4,802 SF
Days on Market35
Property Features for 220 W 4th Street
General Information
Standard status
Active
Size
4,802 SF
Property subtype
Residential Income
Zoning
Multi-Family
Occupancy
100%
Additional Details
Cap Rate
8.8%
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$5,707
Amenities
coin-operated laundry
cable TV
high-speed internet
Building Details
Building Size
4,802 SF
Year Built
1903
Units
8
Listing Agency:
John L. Scott Lacey
(360) 667-5100
Listed By:
Clarissa McQuillion
(360) 667-5100
Source:
Multifamilyspecialist
Added: Jul 9
Changed: Aug 9
Last Checked: Aug 11 at 1:58PM
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 John L. Scott Lacey
Investment Insights
Based on property information with market context.
This 8-unit apartment building in Aberdeen was constructed in 1903 and is currently 100% occupied. Most units have received updates, while the property also includes an on-site coin-operated laundry facility. Cable TV and high-speed internet are listed among the property features.
The building is located at 220 W 4th Street near schools, shopping, and major transportation routes. Multi-Family zoning supports the property's apartment use. The combination of eight residential units, updated interiors, and shared laundry creates a straightforward multifamily configuration.
The building is located at 220 W 4th Street near schools, shopping, and major transportation routes. Multi-Family zoning supports the property's apartment use. The combination of eight residential units, updated interiors, and shared laundry creates a straightforward multifamily configuration.
Key Highlights
- 8‑unit apartment building constructed in 1903
- 100% occupied property
- Most units have been updated
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
$40,647
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
6.25%
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%
$812,940
$812.9K
Cap Rate 7%
$580,671
$580.7K
Cap Rate 9%
$451,633
$451.6K
Market Conditions
NOI Build-Up for 4,802 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
$77.8K $16.20/SF
− Vacancy
−$3.9K −$0.81/SF
EGI
$73.9K $15.39/SF
− OpEx
−$33.3K −$6.93/SF
NOI
$40.6K $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%
$812,940
Cap Rate 7%
$580,671
Cap Rate 9%
$451,633
Alternative Uses
Best Use
Apartment 5plus
$580.7K
$508.1K – $677.5K
NOI $40,647 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,659 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
918
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated units, on-site coin laundry, cable TV, and high-speed internet serve the fully occupied apartment property.
Where is this apartment building located?
The property is located at 220 W 4th Street Aberdeen, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in 1903; 100% occupied property; Most units have been updated
