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The Cunningham 323 4th Ave E

12 Unit Apartment Building $3,150,000 ($262,500/Unit) 5.85% Cap Rate Olympia, WA 98501

Apartment Buildings Washington Olympia 323 4th Ave E, Olympia, WA 98501

Executive Summary

Introducing The Cunningham, a 12-unit mixed-use community with apartments and retail space located in the heart of historical Downtown Olympia, WA. Built in 1896, The Cunningham is the only pioneer storefront which remains in downtown and has earned local, historical registry status. The property features 12 studio and one-bedroom units along with three occupied retail spaces. The Cunningham was substantially renovated in 2018 with a complete seismic upgrade, new electrical, mechanical, roof and storefront. Residents at The Cunningham enjoy amenities including fully-equipped kitchens with dishwashers, ample windows for natural light, and on-site laundry facilities.
Centrally located in downtown Olympia, The Cunningham has incredible access to shopping, restaurants, entertainment, and public transit lines. Straddling Capitol Lake and Budd Inlet, Olympia offers miles of waterfront, many of which are walkable from The Cunningham.

Attachments

The Cunningham_12x_Olympia

Property Facts

Price $3,150,000 Building Class C
Price Per Unit $262,500 Lot Size 0.17 AC
Sale Type Investment Building Size 11,180 SF
Cap Rate 5.85% Average Occupancy 92%
No. Units 12 No. Stories 2
Property Type Multifamily Year Built 1896
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $3,150,000
Price Per Unit $262,500
Sale Type Investment
Cap Rate 5.85%
No. Units 12
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Building Class C
Lot Size 0.17 AC
Building Size 11,180 SF
Average Occupancy 92%
No. Stories 2
Year Built 1896
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Storage Space
  • Bay Window
  • Kitchen
  • Refrigerator
  • Oven
  • Range

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 6 - 350
1+1 6 - 580
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Walk Score ®
Walker's Paradise (94)
Bike Score ®
Biker's Paradise (93)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 78503400400 Improvements Assessment $2,066,400
Land Assessment $362,000 Total Assessment $2,428,400

PROPERTY TAXES

Parcel Number
78503400400
Land Assessment
$362,000
Improvements Assessment
$2,066,400
Total Assessment
$2,428,400

zoning

Zoning Code DB
DB
(971) 200-0686

Contact

  • Listing ID: 32791529

  • Date on Market: 8/14/2024

  • Last Updated:

  • Address: 323 4th Ave E, Olympia, WA 98501

More public record information on 323 4th Ave E, Olympia, WA 98501

The Downtown Olympia Multifamily Property at 323 4th Ave E, Olympia, WA 98501 is currently available. Contact HFO Investment Real Estate, LLC for more information.

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The Cunningham | 323 4th Ave E
(971) 200-0686 x

The Cunningham | 323 4th Ave E

Rob Marton

(971) 200-0686

(971) 200-0686

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