Multifamily Property with Updated
For Sale
$450,000
309 E 2nd, Aberdeen, WA 98520
Current occupancy is supported by month-to-month agreements.
Property Size2,544 SF
Price / SF$176.89
Days on Market26
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
(360) 412-6731
Listed By:
Jacob Brown
Source:
Chehalisvalleyrealty
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 30 at 8:22PM
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 = 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
$21,534
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
4.79%
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%
$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
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
$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 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%
$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 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.3K
$613.6K – $818.2K
NOI $49,089 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $450,000.
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
