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Raymond House Apartments 331 1st St 30 Unit Apartment Building $3,250,000 ($108,333/Unit) 10.74% Cap Rate Raymond, WA 98577
INVESTMENT HIGHLIGHTS
- Affordable housing, central laundry, individual heat and air, fire walls, paved parking subsidized rents.
EXECUTIVE SUMMARY
Raymond House Apartments consist of 24 - 1 bedroom apartments and 6 - 2 bedroom apartments. Based on funding availability, USDA Rural Development may provide funding to make this purchase possible. Funding may include 100 percent Rental Assistance and interest credit assistance that reduces the loan interest to one percent. THE NON DISCRIMINATION STATEMENT: "This institution is an equal opportunity provider". Statement: Wee are pledged to the letter and spirit of US policy for the achievement of equal housing opportunity throughout the nation. We encourage and support affirmative advertising and marketing programs in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. OR Equal Housing Opportunity.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$8,792
|
$0.24
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$8,792
|
$0.24
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Taxes | |
|---|---|
| Annual | $8,792 |
| Annual Per SF | $0.24 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $8,792 |
| Annual Per SF | $0.24 |
PROPERTY FACTS
| Price | $3,250,000 | Building Class | C |
| Price Per Unit | $108,333 | Lot Size | 0.76 AC |
| Sale Type | Investment | Building Size | 36,371 SF |
| Cap Rate | 10.74% | Average Occupancy | 100% |
| No. Units | 30 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | UGA - Multi-family | ||
| Price | $3,250,000 |
| Price Per Unit | $108,333 |
| Sale Type | Investment |
| Cap Rate | 10.74% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 36,371 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1977 |
| Opportunity Zone |
Yes |
| Zoning | UGA - Multi-family |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Heating
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Pantry
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | $888.00 | - |
| 2+2 | 6 | $1,066 | - |
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PROPERTY TAXES
| Parcel Number | 72040010011 | Total Assessment | $1,183,600 (2025) |
| Land Assessment | $236,300 (2025) | Annual Taxes | $8,792 ($0.24/SF) |
| Improvements Assessment | $947,300 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
72040010011
Land Assessment
$236,300 (2025)
Improvements Assessment
$947,300 (2025)
Total Assessment
$1,183,600 (2025)
Annual Taxes
$8,792 ($0.24/SF)
Tax Year
2024
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Raymond House Apartments | 331 1st St
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