Bought with All Real Estate Solution
For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $386,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,160 sqft
Price per Sqft $92
Subdivision Okanogan
MLS Listing ID 1851203
Sold Date 01/07/22
Style 55 - 5-9 Units
Year Built 1934
Annual Tax Amount $2,508
Lot Size 5,300 Sqft
Property Description
Investors, landlords, and entrepreneurs, an fantastic opportunity awaits you. This 6 unit building is Section 8 approved on most of the units, and has 0% vacancy rates. The section 8 apartments are already approved for rate increases for 2022, which means this property will have a potential gross cap rate over 10% and a net cap of 7.15% next year!!! Very stable investment w/ rent assurances in uncertain times. There are two 2 bed/1 bath units, 3 1bed/1bath units, & one studio unit. Plenty of off street parking. The location is paramount!!! The city park & pool are nearly right across the street, & main street of Okanogan right around the corner. Opportunity to make extra income by reestablishing the laundry facility in the building.
Location
State WA
County Okanogan
Area 620 - Okanogan Valley
Interior
Interior Features Ceramic Tile
Flooring Ceramic Tile
Fireplace No
Exterior
Exterior Feature Wood
Utilities Available Sewer Connected, Electric
Amenities Available Deck, Patio
Waterfront No
View Y/N Yes
View Mountain(s), River
Roof Type Metal
Building
Lot Description Alley, Corner Lot, Paved
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Buyer To Verify
Middle Schools Buyer To Verify
High Schools Buyer To Verify
School District Okanogan
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
GET MORE INFORMATION
John Dirgo Deweese
Designated Broker | License ID: 25033
Designated Broker License ID: 25033