Multifamily Property with Updated
For Sale
$445,900
309 E 2nd, Aberdeen, WA 98520
Current occupancy is supported by month-to-month agreements.
Property Size2,544 SF
Price / SF$175.28
Days on Market71
Property Features for 309 E 2nd
General Information
Standard status
Active
Size
2,544 SF
Property subtype
Multi-Family
Occupancy
100%
Amenities
Cable TV
High Speed Internet
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
WEICHERT, Realtors Reynolds RE
Listed By:
Jacob Brown
(360) 412-6731
Source:
Chehalisvalleyrealty
Added: Aug 5
Changed: Oct 7
Last Checked: Oct 7 at 5:29PM
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 WEICHERT, Realtors Reynolds RE
Investment Insights
Based on property information with market context.
This multifamily property, built in 1976, is zoned Multi-Family and includes occupied units operating under month-to-month agreements. Property improvements include fresh exterior paint, substantial siding replacement, a new porch, new entry doors, and updated exterior electrical service extending from the meters to the utility pole.
Three units have been remodeled within the last two years. The property also includes a detached shed with washer and dryer hookups, providing an additional functional improvement. Cable TV and high-speed internet service are available.
Three units have been remodeled within the last two years. The property also includes a detached shed with washer and dryer hookups, providing an additional functional improvement. Cable TV and high-speed internet service are available.
Key Highlights
- All units are currently occupied under month‑to‑month agreements
- Three units remodeled within the last 2 years
- Built in 1976 and zoned Multi‑Family
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,534
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,680
$430.7K
Cap Rate 7%
$307,629
$307.6K
Cap Rate 9%
$239,267
$239.3K
Market Conditions
NOI Build-Up for 2,544 SF
Gross rent
$41.2K $16.20/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$39.2K $15.39/SF
− OpEx
−$17.6K −$6.93/SF
NOI
$21.5K $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%
$430,680
Cap Rate 7%
$307,629
Cap Rate 9%
$239,267
Alternative Uses
Best Use
Apartment 5plus
$307.6K
$269.2K – $358.9K
NOI $21,534 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.3K
$613.6K – $818.2K
NOI $49,089 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,007
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Current occupancy is supported by month-to-month agreements.
Where is this multifamily property located?
The property is located at 309 E 2nd Aberdeen, WA.
What is the asking price?
The asking price for this property is $445,900.
What are key features of this property?
This property features: All units are currently occupied under month‑to‑month agreements; Three units remodeled within the last 2 years; Built in 1976 and zoned Multi‑Family
