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Norseman Apartments 1913 Coolidge Rd 32 Unit Apartment Building $4,121,190 CAD ($128,787 CAD/Unit) 6.91% Cap Rate Aberdeen, WA 98520
Investment Highlights
- Washer/Dryer Hook-ups in Every Unit
- Significant Capital Updates Already Completed
- Large Floor Plans - All 2 Bed / 1 Bath Units
- Garden-Style Layout
Executive Summary
Norseman Apartments is a well maintained 32-unit garden-style community built in 1979 at 1913 Coolidge Road in South Aberdeen, offering all two-bedroom, one-bath homes of approximately 840 square feet. Residents have quick access to US 12, major employers in Aberdeen and Hoquiam, and everyday conveniences near Grays Harbor College, the Bishop Center for Performing Arts, and the John Spellman Library, creating a practical and connected neighborhood setting. The property has received $654,470 in recent capital improvements, including roof replacements, siding replacements, foundation and framing repairs, and double-pane window replacements, along with various unit interior renovations. Every residence includes in-unit washer and dryer hookups, and with additional renovations there is a straightforward path to higher achievable rents while supporting stable occupancy.
Financial Summary (Actual - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,121,190 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $128,787 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.21 AC |
| Cap Rate | 6.91% | Building Size | 26,880 SF |
| Gross Rent Multiplier | 7.74 | No. Stories | 2 |
| No. Units | 32 | Year Built | 1979 |
| Property Type | Multifamily | Parking Ratio | 1.86/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM | ||
| Price | $4,121,190 CAD |
| Price Per Unit | $128,787 CAD |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| Gross Rent Multiplier | 7.74 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.21 AC |
| Building Size | 26,880 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | RM |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Storage Space
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 32 | $1,436 CAD | 840 |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 014601101101 | Total Assessment | $2,619,917 CAD (2025) |
| Land Assessment | $155,781 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,464,136 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
014601101101
Land Assessment
$155,781 CAD (2025)
Improvements Assessment
$2,464,136 CAD (2025)
Total Assessment
$2,619,917 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Norseman Apartments | 1913 Coolidge Rd
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