Georgie
This listing was posted on Georgie (via ListedBuy).
$1,300,000
11 Units I 8.02% Cap Rate I $435,000 Spent Fully Renovating Plumbing
Price:
$1,300,000
BR/BA:
10+ BR, 10+ BA
Location:
Shelton, WA
Description:
Please visit: /properties/145069/cedar-street-apartments8.02% Cap Rate and 10.61% Cash on Cash Return with Additional Value-Add Opportunity$435,000 Spent Fully Renovating Plumbing, Electrical, Roof, Siding, Windows and Interiors Operate as Turn- Key or Lightly Upgrade Select Interior Finishes For 10% Premium Over in Place Sales Cedar Street Apartments is a 14-unit, two story apartment complex located at 114 W Cedar Street, Shelton, Washington 98584. The property sits on two tax lots. Cedar Street Apartments was constructed in two phases, half in 1935 and the other half in 1975. The property totals 5,484 saleable square feet and features four studio, six one-bed/one-bath and one two-bed/one-bath units. Unit amenities include dishwashers and washers and dryers in select units. The property offers communal on-site laundry and off-street parking. Since their purchase of the property in 2018, the current owner has invested over $435,000 into property improvements. Most all systems have been all or partly overhauled including plumbing, electrical including installing separate meters and new service), roof, siding, windows as well as completely renovating all unit interiors. Interior finishes consist of shaker cabinets, white kitchen appliances, vinyl flooring in kitchens and bathrooms, and carpeting throughout the remaining floorplan. A new owner can operate the property as-is, taking advantage of the considerable cashflow or implement a light value-add plan to increase sales further with select interior finish upgrades. Property is currently being leased below market sale adding additional opportunity. Cedar Street apartments is located in Downtown Shelton and gives tenants convenient walking access to a plethora of dining, shopping, entertainment and recreation options. Tenants find themselves just a six-minute walk to the nearest grocery store, a four-minute drive to Mason County Hospital, four-minutes to Olympic College, and within a 10-minute drive. Still available at ListedBuy!
Property Type:
Multi-Family Residences for Sale
Sq feet:
5,484 sq. ft.
Year:
1975
Amenities:
Dishwasher, Parking
For sale by:
By Owner
Agent Name:
Georgie
Posted:
April 15 on ListedBuy
Visit Our Partner Website
This listing was posted on another website. Click here to open: Go to Georgie (via ListedBuy)
Important Safety Tips
These might be signs of fraud:
- Really cheap prices
- Irregular email adresses
- Contact info in pictures
To learn more, visit the Safety Center or click here to report this listing.
More About this Listing: 11 Units I 8.02% Cap Rate I $435,000 Spent Fully Renovating Plumbing
11 Units I 8.02% Cap Rate I $435,000 Spent Fully Renovating Plumbing is a 10+ BR 10 Bathroom, 10+ BA Multi-Family Real Estate for Sale in Shelton WA. Find other listings like 11 Units I 8.02% Cap Rate I $435,000 Spent Fully Renovating Plumbing by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA Multi-Family Real Estate for Sale in Shelton WA.
11 Units I 8.02% Cap Rate I $435,000 Spent Fully Renovating Plumbing is a 10+ BR 10 Bathroom, 10+ BA Multi-Family Real Estate for Sale in Shelton WA. Find other listings like 11 Units I 8.02% Cap Rate I $435,000 Spent Fully Renovating Plumbing by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA Multi-Family Real Estate for Sale in Shelton WA.