Duplex with Modern
For Sale
$559,000
509 511 S Pine Avenue, Warden, WA 98857
Two leased residences feature private laundry rooms, fenced yards, and individual three-bedroom layouts.
Property Size2,832 SF
Price / SF$197.39
Days on Market48
Property Features for 509 511 S Pine Avenue
General Information
Standard status
Active
Size
2,832 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$36,889
Taxes and HOA fees
Annual Taxes
$5,236
Amenities
private laundry rooms
underground sprinklers
Laminate,Carpet
Yes
No
2
6
Electric
Alley,Curbs,Paved
Community
Cable TV,Fenced-Fully,High Speed Internet,Patio,Sprinkler System
0.1524
Wood Products
Poured Concrete
2832
Building Details
Building Size
2,832 SF
Year Built
2023
Stories
2
Listing Agency:
John L. Scott Anacortes
(503) 585-1970
Listed By:
Curtis Holloway
(503) 269-5536
Source:
Premierepropertygroup
Added: Aug 30
Changed: Oct 15
Last Checked: Oct 16 at 6:11AM
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 Anacortes
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2-unit multifamily property includes 2832 square feet of living space and was constructed in 2023. Each residence provides 3 bedrooms, 2.5 bathrooms, and over 1,400 square feet, along with laminate flooring, carpet, quartz countertops, and a private laundry room. Both units are occupied under 1-year leases.
Outdoor features include fully fenced yards, patios, and underground sprinklers. The property also offers paved access, curbs, alley access, high-speed internet, cable TV, and electric service. Located at 509 511 S Pine Avenue in Warden, the building has poured concrete construction and wood-product exterior materials.
Outdoor features include fully fenced yards, patios, and underground sprinklers. The property also offers paved access, curbs, alley access, high-speed internet, cable TV, and electric service. Located at 509 511 S Pine Avenue in Warden, the building has poured concrete construction and wood-product exterior materials.
Key Highlights
- 2‑unit multifamily property with 2832 square feet
- Built in 2023
- Each unit offers 3 bedrooms, 2.5 bathrooms, and over 1,400 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,819
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,380
$476.4K
Cap Rate 7%
$340,271
$340.3K
Cap Rate 9%
$264,656
$264.7K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$45.5K $16.08/SF
− Vacancy
−$2.2K −$0.79/SF
EGI
$43.3K $15.29/SF
− OpEx
−$19.5K −$6.88/SF
NOI
$23.8K $8.41/SF
Area
Grant County, WA
Vacancy
4.90%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,380
Cap Rate 7%
$340,271
Cap Rate 9%
$264,656
Alternative Uses
Best Use
Apartment 5plus
$340.3K
$297.7K – $397.0K
NOI $23,819 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$615.2K
$538.3K – $717.8K
NOI $43,065 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 98857, WA
3,999
Population
1,355
Households
3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
167.4 sq mi
ZIP Area
24
Density / Sq Mi
$57,743
Median Household Income
$37,099
Median Earnings
$820
Median Rent
$194,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two leased residences feature private laundry rooms, fenced yards, and individual three-bedroom layouts.
Where is this multifamily property located?
The property is located at 509 511 S Pine Avenue Warden, WA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 2‑unit multifamily property with 2832 square feet; Built in 2023; Each unit offers 3 bedrooms, 2.5 bathrooms, and over 1,400 square feet
