This property comprises 12 two-bedroom, one-bath units, split between an 8-unit building and a 4-unit building on two tax parcels. Current rents are below market value, providing excellent potential for increased income with some like units already collecting $1275. The pro forma cap rate is estimated to exceed 10%!! with just some minor upgrades. It is conveniently located near public transit and shopping centers, enhancing tenant appeal. Additionally, its proximity to ocean beaches and Grays Harbor College adds to its attractiveness for potential renters. This is a prime opportunity for all investors to add to their portfolio.
Sold
Listed by: Keller Williams Rlty Bellevue
Bought with: Pellego, Inc.
$1,000,000
2425 Bay Avenue, Hoquiam, WA 98550
24beds
12baths
10,800sqft
Multi Family
Built in 1978
-- sqft lot
$-- Zestimate®
$93/sqft
$1,321 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,321/mo
Zestimate® history
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Two-bedroom one-bath units
Zillow last checked:
Listing updated:
Listed by:
Michael Durham,
Keller Williams Rlty Bellevue
Bought with:
Avi Sandhu, 21033112
Pellego, Inc.
Olesya Tsvyan, 140697
Pellego, Inc.
Source: NWMLS as distributed by MLS GRID,MLS#: 2294255
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 24
- Bathrooms: 12
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 10,800
- Total interior livable area: 10,800 sqft
Property
Parking
- Total spaces: 14
- Parking features: Open
- Uncovered spaces: 14
Features
- Patio & porch: Wall to Wall Carpet
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.29 Acres
- Dimensions: 100 x 126 x 100 x 126
- Features: Corner Lot, Curbs, Paved, Sidewalk, Cable TV, Deck
Details
- Parcel number: 055205501600
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1978
Utilities & green energy
- Electric: Company: Grays Harbor PUD
- Sewer: Sewer Connected, Company: City of Hoquiam
- Water: Public, Company: City of Hoquiam
Community & neighborhood
Location
- Region: Hoquiam
- Subdivision: Hoquiam
Other
Other facts
- Listing terms: Conventional
- Cumulative days on market: 587 days
Price history
| Date | Event | Price |
|---|---|---|
| 12/17/2024 | Sold | $1,000,000-16.6%$93/sqft |
Source:  NWMLS as distributed by MLS GRID #2294255 Report a problem | ||
| 10/15/2024 | Pending sale | $1,199,000$111/sqft |
Source: NWMLS as distributed by MLS GRID #2294255 Report a problem | ||
| 9/24/2024 | Listed for sale | $1,199,000+139.8%$111/sqft |
Source: NWMLS as distributed by MLS GRID #2294255 Report a problem | ||
| 7/30/2019 | Sold | $500,000+11.1%$46/sqft |
Source: NWMLS as distributed by MLS GRID #1467671 Report a problem | ||
| 6/13/2019 | Pending sale | $450,000$42/sqft |
Source: First Harbor Real Estate, Inc. #1467671 Report a problem | ||
| 6/4/2019 | Listed for sale | $450,000$42/sqft |
Source: First Harbor Real Estate, Inc. #1467671 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,684 +9.7% | $497,150 +25.9% |
| 2023 | $4,271 +13.2% | $394,781 +15.7% |
| 2022 | $3,774 -14.4% | $341,358 -1.6% |
| 2021 | $4,407 -6.1% | $346,801 |
| 2020 | $4,692 +18.9% | $346,801 +22.8% |
| 2019 | $3,945 | $282,481 +13.4% |
| 2018 | $3,945 -0.3% | $249,025 |
| 2017 | $3,958 +0.2% | $249,025 -4.5% |
| 2016 | $3,950 | $260,805 -3.5% |
| 2014 | $3,950 +3% | $270,200 |
| 2013 | $3,836 -13% | $270,200 -19.6% |
| 2011 | $4,412 +0.4% | $336,000 |
| 2010 | $4,396 +7.5% | $336,000 |
| 2009 | $4,089 +25.8% | $336,000 |
| 2008 | $3,251 | $336,000 +40% |
| 2007 | $3,251 -12.4% | $240,000 |
| 2006 | $3,712 +1.2% | $240,000 |
| 2005 | $3,669 +0.5% | $240,000 |
| 2004 | $3,651 +2.2% | $240,000 -2% |
| 2003 | $3,572 +2.6% | $245,000 |
| 2002 | $3,481 +3% | $245,000 |
| 2001 | $3,379 -2.8% | $245,000 |
| 2000 | $3,477 | $245,000 |
Find assessor info on the county website
Neighborhood: 98550
Nearby schools
GreatSchools rating
- 7/10Hoquiam Homelink SchoolGrades: K-12Distance: 0.2 mi
- 2/10Central Elementary SchoolGrades: 2-5Distance: 1.1 mi
- 4/10Lincoln Elementary SchoolGrades: 2-5Distance: 1.6 mi
Schools provided by the listing agent
- Middle: Hoquiam Mid
- High: Hoquiam High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Washington
- Grays Harbor County
- Hoquiam
- 98550
- 2425 Bay Avenue
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