14-Unit Apartment
For Sale
$1,250,000
301 3RD, Aberdeen, WA 98520
Two-story multifamily property with varied studio, one-bedroom, and two-bedroom layouts in Aberdeen.
Property Size10,000 SF
Price / SF$125
Days on Market41
Property Features for 301 3RD
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Multi-family
Units
Unit Mix
2 x studio, 6 x studio w/ bonus room, 4 x 1BR, 2 x 2BR
Multifamily Units
14
Additional Details
Public Transit
Yes
Building Details
Year Built
1923
Stories
2
Listing Agency:
John L. Scott,Inc.
Listed By:
Thomas Earnest
(253) 564-6211
Source:
Century21northhomes
Added: Jun 27
Changed: Jul 31
Last Checked: Aug 5 at 4:05AM
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 John L. Scott,Inc.
Investment Insights
Based on property information with market context.
This two-story multifamily property contains 14 apartment units within approximately 10,000 square feet. Built in 1923, the building offers a varied unit mix consisting of two true studio apartments, six studios with bonus rooms, four one-bedroom units, and two two-bedroom apartments. Active maintenance is in progress.
Located at 301 3RD in Aberdeen, the property is directly across from a school and close to everyday services, shopping, dining, transit, and local amenities. The unit variety supports multiple residential layout preferences within a single apartment asset. Showings require at least 48 hours’ notice to post notices for all apartments, with entry to be provided after mutual agreement.
Located at 301 3RD in Aberdeen, the property is directly across from a school and close to everyday services, shopping, dining, transit, and local amenities. The unit variety supports multiple residential layout preferences within a single apartment asset. Showings require at least 48 hours’ notice to post notices for all apartments, with entry to be provided after mutual agreement.
Key Highlights
- 14‑unit apartment building with approximately 10,000 square feet
- Built in 1923 with two‑story apartment construction
- Unit mix includes 2 true studios, 6 studios with bonus rooms, 4 one‑bedroom units, and 2 two‑bedroom units
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 | $162.0k | $16.20 |
| − Vacancy | −$8.1k | −$0.81 |
| EGI | $153.9k | $15.39 |
| − OpEx | −$69.3k | −$6.93 |
| NOI | $84.6k | $8.46 |
10,000 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,645 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $192,960 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
349
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 - Two-story multifamily property with varied studio, one-bedroom, and two-bedroom layouts in Aberdeen.
Where is this apartment building located?
The property is located at 301 3RD Aberdeen, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 14‑unit apartment building with approximately 10,000 square feet; Built in 1923 with two‑story apartment construction; Unit mix includes 2 true studios, 6 studios with bonus rooms, 4 one‑bedroom units, and 2 two‑bedroom units
