Multifamily Apartment
849 Spring Street Friday Harbor, WA 98250
849 Spring Street, Friday Harbor, WA, 98250
$2,525,000
For Sale
$2,525,000
Apartment complex in Friday Harbor with 24 units across five buildings, including a vacant lot and recent exterior and life-safety upgrades.
Property Size20,000 SF
Price / SF$126.25
Days on Market31
Property Features for 849 Spring Street
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1993
Listing agency
Windermere RE San Juan Island
(360) 378-3600
Listed by
Gregory King · License #77332
Source
Xome
Added: Jun 21 Updated: Jul 20 at 6:55PM Checked: Jul 21 at 3:15AM
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 San Juan Island
Investment Insights
Based on property information with market context.
Spring Street Square is an established multifamily apartment complex in Friday Harbor consisting of five buildings with 24 units. The property includes two tax parcels, one of which is accompanied by an additional vacant lot.
The complex benefits from prominent Spring Street frontage and offers ample parking. It is located near the hospital and airport.
Recent upgrades include installation of a fire suppression system, improvements to landings and railings, and exterior paint. The current configuration is described as operating near capacity, with an indicated 6.5% cap rate and projected returns of approximately 7.8% upon stabilization. The offering also notes the potential to incorporate short- or mid-term residential units.
The complex benefits from prominent Spring Street frontage and offers ample parking. It is located near the hospital and airport.
Recent upgrades include installation of a fire suppression system, improvements to landings and railings, and exterior paint. The current configuration is described as operating near capacity, with an indicated 6.5% cap rate and projected returns of approximately 7.8% upon stabilization. The offering also notes the potential to incorporate short- or mid-term residential units.
Key Highlights
- Spring Street Square in Friday Harbor: approx. 20,000± SF across five buildings, currently configured as 24 units
- Generates a stated 6.5% cap rate currently, with projected returns of approx. 7.8% upon stabilization
- Sale includes two tax parcels plus an additional 0.55± acre vacant lot
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
What type of property is this?
Apartment building - Apartment complex in Friday Harbor with 24 units across five buildings, including a vacant lot and recent exterior and life-safety upgrades.
Where is this apartment building located?
The property is located at 849 Spring Street Friday Harbor, WA.
What is the asking price?
The asking price for this property is $2,525,000.
What are key features of this property?
This property features: Spring Street Square in Friday Harbor: approx. 20,000± SF across five buildings, currently configured as 24 units; Generates a stated 6.5% cap rate currently, with projected returns of approx. 7.8% upon stabilization; Sale includes two tax parcels plus an additional 0.55± acre vacant lot
