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Harbor House Condominium 701 L St 12 Unit Apartment Building $1,095,000 ($91,250/Unit) 6.76% Cap Rate Hoquiam, WA 98550
Investment Highlights
- Convenient access to US-12
- Located within reach of schools, retail amenities, and essential services
Executive Summary
Harbor House Condos is a well-maintained 12-unit garden-style community built in 1981 in Hoquiam. Offering two-bed, one-bed and studio unit floor plans, Residents have quick access to US-12, major employers in Hoquiam and Aberdeen, creating a practical neighborhood setting. The property has received over $111,000 in recent capital improvements.
Financial Summary (Actual - 2025) 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
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $91,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.38 AC |
| Cap Rate | 6.76% | Building Size | 9,200 SF |
| Gross Rent Multiplier | 8.02 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1981 |
| Property Type | Multifamily | Parking Ratio | 1.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C2 | ||
| Price | $1,095,000 |
| Price Per Unit | $91,250 |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| Gross Rent Multiplier | 8.02 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 9,200 SF |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 1.83/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $912.50 | 511 - 970 |
| Studios | 1 | $825.00 | 411 |
| 2+1.5 | 4 | $1,088 | 970 - 1,001 |
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Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Total Assessment | $553,148 | |
| Land Assessment | $60,776 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $492,372 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$60,776
Improvements Assessment
$492,372
Total Assessment
$553,148
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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