40-Unit Garden-Style Apartment
For Sale
$3,500,000
621 7th St, Hoquiam, WA 98550
Multifamily property with one- and two-bedroom floor plans and convenient access to US-12.
Property Size33,600 SF
Price / SF$104.17
Days on Market65
Property Features for 621 7th St
General Information
Standard status
Active
Size
33,600 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
40
Building Details
Year Built
1975
Construction
garden-style
Listing Agency:
Westlake Associates, Inc.
Listed By:
Reid Jones · License #87080
(206) 250-9655
Source:
Nfrrealty
Added: Aug 11
Changed: Oct 3
Last Checked: Oct 7 at 1:00PM
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 Westlake Associates, Inc.
Investment Insights
Based on property information with market context.
Sunnyside Sands Apartments is a 40-unit garden-style multifamily community in Hoquiam, Washington. The property offers a mix of one-bedroom and two-bedroom residences within a low-rise apartment setting.
Located at 621 7th St, the community provides access to US-12 and nearby employment centers in Hoquiam and Aberdeen. The property has also undergone more than $173,000 in capital improvements.
Located at 621 7th St, the community provides access to US-12 and nearby employment centers in Hoquiam and Aberdeen. The property has also undergone more than $173,000 in capital improvements.
Key Highlights
- 40‑unit garden‑style apartment community
- Mix of one‑bedroom and two‑bedroom floor plans
- Access to US‑12
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,407
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,688,140
$5.7M
Cap Rate 7%
$4,062,957
$4.1M
Cap Rate 9%
$3,160,078
$3.2M
Market Conditions
NOI Build-Up for 33,600 SF
Gross rent
$544.3K $16.20/SF
− Vacancy
−$27.2K −$0.81/SF
EGI
$517.1K $15.39/SF
− OpEx
−$232.7K −$6.93/SF
NOI
$284.4K $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%
$5,688,140
Cap Rate 7%
$4,062,957
Cap Rate 9%
$3,160,078
Alternative Uses
Best Use
Apartment 5plus
$4.06M
$3.56M – $4.74M
NOI $284,407 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.26M
$8.10M – $10.81M
NOI $648,346 @ 7.0% cap · market cap 18.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
40
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
375
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with one- and two-bedroom floor plans and convenient access to US-12.
Where is this apartment building located?
The property is located at 621 7th St Hoquiam, WA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 40‑unit garden‑style apartment community; Mix of one‑bedroom and two‑bedroom floor plans; Access to US‑12
