404 Front St 12 Unit Apartment Building $3,195,000 ($266,250/Unit) 5.41% Cap Rate Sumas, WA 98295
INVESTMENT HIGHLIGHTS
- Adjacent to Sumas Elementary School
- Professionally managed
- Blocks away restaurants and retail
EXECUTIVE SUMMARY
12-unit apartment complex (3 four plexes) in the tight-knit community of Sumas! Located directly adjacent to Sumas Elementary School in a quiet part of town, but only blocks away from eating and retail establishments on State Route 9. Units are 3-bed/2.5-bath with fully equipped kitchens, washer/dryer, vinyl and carpeted floors, and outdoor patio. Plenty of on-site parking for tenants. Professionally managed since being built in 2019 with a strong rental history.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| 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
|
PROPERTY FACTS
| Price | $3,195,000 |
| Price Per Unit | $266,250 |
| Sale Type | Investment |
| Cap Rate | 5.41% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 17,998 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2019 |
| Parking Ratio | 1.67/1,000 SF |
| Zoning | RH |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Vinyl Flooring
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 12 | $1,850 | 1,200 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,666,955 | |
| Land Assessment | $448,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,218,455 | Tax Year | 2024 |
