Log In/Sign Up
Your email has been sent.
527 E 1st St 12 Unit Apartment Building $2,233,472 CAD ($186,123 CAD/Unit) 7.03% Cap Rate Port Angeles, WA 98362
EXECUTIVE SUMMARY
The Morning Apartments is a twelve-unit community located in Downtown Port Angeles. Originally built in 1953, significant improvements have been made on the property in order for it to perform as well as it does. Units have all been freshly renovated while preserving the historic charm of wood cabinetry and hardwood floors.
Morning Glory consists of nine one-bedroom, one-bathroom units averaging 711 square feet, and two two-bedroom, one-bathroom units averaging 988 square feet, and one three-bedroom, one-bathroom unit of approximately 968 square feet. The apartment has two shared washers and two shared dryers. At a purchase price of $1,600,000, Morning Glory offers great value to a buyer at $133,333 per unit, $171 per foot, with solid operations. An incoming investor to undergo could come in and achieve over a 10% Cash-on-Cash return on day one.
Morning Glory consists of nine one-bedroom, one-bathroom units averaging 711 square feet, and two two-bedroom, one-bathroom units averaging 988 square feet, and one three-bedroom, one-bathroom unit of approximately 968 square feet. The apartment has two shared washers and two shared dryers. At a purchase price of $1,600,000, Morning Glory offers great value to a buyer at $133,333 per unit, $171 per foot, with solid operations. An incoming investor to undergo could come in and achieve over a 10% Cash-on-Cash return on day one.
PROPERTY FACTS
| Price | $2,233,472 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $186,123 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.03% | Building Size | 10,456 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Zoning | P-CA | ||
| Price | $2,233,472 CAD |
| Price Per Unit | $186,123 CAD |
| Sale Type | Investment |
| Cap Rate | 7.03% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 10,456 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | P-CA |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | - | 474 - 875 |
| 2+1 | 2 | - | 900 - 1,075 |
| 3+1 | 1 | - | 968 |
1 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 61458 | Improvements Assessment | $432,735 CAD |
| Land Assessment | $117,257 CAD | Total Assessment | $549,992 CAD |
PROPERTY TAXES
Parcel Number
61458
Land Assessment
$117,257 CAD
Improvements Assessment
$432,735 CAD
Total Assessment
$549,992 CAD
1 of 24
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
527 E 1st St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.