721 N K Street, Aberdeen, WA 98520
Courtesy of Spivey Realty Group, LLC
- $799,900
- 8,056
- SqFt
- List Price
- $799,900
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 2578576
- Subtype
- Residential Income
- Style
- 55 - 5-9 Units
- Year Built
- 1909
- Living Area
- 8,056
- Lot Size
- 6,500
- Acres
- 0.15
- Subdivision
- Aberdeen
- Neighborhood
- Aberdeen
- MLS Area Major
- Aberdeen
Property Description
Turnkey Aberdeen multifamily investment with immediate cash flow and additional upside! This fully occupied 7-unit property features six 1 bed/1 bath units and one 2 bed unit, generating approximately $6,920/month in gross rental income with an estimated 6.71% cap rate. Units 5 and 6 offer potential conversion to 2-bedroom layouts, plus a potential 8th one-bedroom unit is already framed in the basement for future completion. Significant improvements include a new roof in 2021, updates throughout the units, new commercial water heater and sewer line in 2023, extensive building and deck reinforcement, exterior paint in 2025, approximately $30k in plumbing repairs/replacements, and mostly updated electrical. Great opportunity for rent increases with upgrades throughout. Fully rented and turn-key with substantial improvements already completed. A unique opportunity to acquire a stabilized multifamily asset with strong existing income and additional value-add potential!
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Additional Information
- Amenities
- Basement
- Exterior Features
- Brick, Cement/Concrete
- Property Description
- 55 - 5-9 Units
- Flooring
- Hardwood, Carpet
- Heating
- Wall Furnace
- Air Conditioning
- None
- Roof
- Composition
- School District
- Aberdeen
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.