418 Pioneer Ave Montesano, WA 98563

Property Details for 418 Pioneer Ave

Year built

1891

Property size

2,362 SF

Property type

Residential income homes

APN

076100800900

Description

This charming Montesano duplex, located at 418 Pioneer Ave E, presents a compelling investment opportunity. The property boasts a total of 2,362 square feet across two units situated on a 6,000 square foot lot. Built in 1891, this two-story building offers a blend of character and potential. The main unit, spanning 1,392 square feet according to county records, features two bedrooms, one full bath, and an eat-in kitchen with washer/dryer hookups. The upper unit, at 970 square feet, includes one bedroom, a 3/4 bath, high ceilings, and a spacious living room with an eat-in kitchen. Off-street parking is conveniently accessible from the rear alley. Currently, rents are below market value, with potential for significant increases. The main unit could command approximately $1400 per month, and the upper unit around $1000, representing substantial upside. The property's prime location places it within walking distance of shopping, the post office, a pharmacy, and a bus station, making it highly attractive to renters. This property is ideal for an owner-occupant seeking to live in one unit while generating rental income from the other. The property's proximity to schools further enhances its appeal. A modest refresh would significantly enhance the property's value and rental income. The asking price is $389,900, with a net operating income (NOI) of $11,311 and a cap rate of 2.90%. The property's APN is 076100800900. This is a rare opportunity to acquire a well-situated duplex in a desirable area with significant rental upside.