Remodeled
For Sale
$360,000
508 Emerson Ave, Hoquiam, WA 98550
Three-unit multifamily property with updated interiors, refreshed exterior components, and shared laundry facilities.
Property Size3,200 SF
Price / SF$112.50
Days on Market92
Property Features for 508 Emerson Ave
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Amenities
co-op laundry
playground area
partially fenced
Building Details
Year Built
1896
Buildings
1
Listing Agency:
Windermere RE/Aberdeen
Listed By:
Joy Beard-Eggert
(360) 533-6464
Source:
Chehalisvalleyrealty
Added: Jul 15
Changed: Oct 1
Last Checked: Oct 7 at 2:51PM
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 Windermere RE/Aberdeen
Investment Insights
Based on property information with market context.
This remodeled triplex contains 3,200 square feet across three residential units. Two units offer 2 bedrooms and 1 bath, while the third includes 3 bedrooms and 1 bath. Interior improvements include refreshed flooring and paint, a replacement stove in unit #3, a new refrigerator in unit #2, and a renovated tub and shower in unit #1. The property is insulated and equipped with hardwired smoke alarms, with co-op laundry serving the units.
Exterior work completed between 2019 and 2022 includes new siding and paint, skirting, and porch coverings. Vinyl double-pane windows are in place, and most plumbing and wiring were upgraded between 2015 and 2017. The rear yard includes space for a playground and is partially fenced. Parking includes 1 dedicated spot, with additional street parking available. The building dates to 1896.
Exterior work completed between 2019 and 2022 includes new siding and paint, skirting, and porch coverings. Vinyl double-pane windows are in place, and most plumbing and wiring were upgraded between 2015 and 2017. The rear yard includes space for a playground and is partially fenced. Parking includes 1 dedicated spot, with additional street parking available. The building dates to 1896.
Key Highlights
- Three‑unit layout: two 2‑bedroom units and one 3‑bedroom unit, each with 1 bath
- 3,200 square feet in a building constructed in 1896
- New siding and paint completed between 2020‑2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,212
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,240
$584.2K
Cap Rate 7%
$417,314
$417.3K
Cap Rate 9%
$324,578
$324.6K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$44.2K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$41.7K $13.04/SF
− OpEx
−$12.5K −$3.91/SF
NOI
$29.2K $9.13/SF
Area
Grays Harbor County, WA
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,240
Cap Rate 7%
$417,314
Cap Rate 9%
$324,578
Alternative Uses
Best Use
Multifamily LT 5
$417.3K
$365.2K – $486.9K
NOI $29,212 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$386.9K
$338.6K – $451.4K
NOI $27,086 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$882.1K
$771.8K – $1.03M
NOI $61,747 @ 7.0% cap · market cap 17.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 98550, WA
11,502
Population
5,373
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
92%
High-School Grad
266.0 sq mi
ZIP Area
43
Density / Sq Mi
$56,920
Median Household Income
$36,185
Median Earnings
$1,003
Median Rent
$212,400
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?
Triplex - Three-unit multifamily property with updated interiors, refreshed exterior components, and shared laundry facilities.
Where is this triplex located?
The property is located at 508 Emerson Ave Hoquiam, WA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Three‑unit layout: two 2‑bedroom units and one 3‑bedroom unit, each with 1 bath; 3,200 square feet in a building constructed in 1896; New siding and paint completed between 2020‑2022
