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620 Eklund Ave

6 Unit Apartment Building $589,000 ($98,167/Unit) 12.56% Cap Rate Hoquiam, WA 98550

Investment Highlights

  • BNB Management willing to stay and has managed for many years
  • Metal roof, new gutters, and vinyl windows
  • 100% Full proven track record

Executive Summary

**Charming Historic 6 plex Gem in the Heart of Hoquiam!**
Welcome to your next investment opportunity—a stunning 4,556 sq ft building that beautifully marries historic charm with modern comfort! Originally built in 1920, this delightful property was thoughtfully updated in 2018, featuring a brand-new 6-unit service panel and an array of stylish upgrades that make it a true standout including new appliances, cabinets, counters, vct flooring, paint.
Nestled in a vibrant downtown neighborhood, this well-maintained building offers breathtaking sunset, territorial views and is just a leisurely stroll from the bustling heart of Hoquiam and a short drive to the breathtaking Ocean Shores and the majestic Olympic National Forest.
Six plex with office and laundry
**Property Highlights:**
- **Spacious 3-Bed, 1.5-Bath Apartment**: Perfect as a potential owner's home, complete with a cozy gas fireplace and laundry
- **1-Bed, 1-Bath with Office Space**: Perfect for a small home office or a compact living space with stackable laundry.
- **1-Bed, 1-Bath **:claw foot bath tub with old world history. territorial views with private parking space and laundry.
- **Charming Small Studios**: cozy studios featuring private fenced yards and deck-ideal for relaxation!
- **Additional Studios**: Two more studios with small kitchens and laundry/hookups, catering to various tenant needs.
long term property management
Office with bathroom and on site laundry poss coin laundry
This property has a proven track record as a long-term operating Airbnb, with several units currently functioning as short-term rentals. Short term rentals are fully furnished, with furniture negotiable—making it easy for you to step right in and start earning!
**Key Features Include:**
- Preserved original character and woodwork
- Updated cabinets, counters, and appliances
- Durable VCT flooring
- Metal roof, new gutters, and vinyl windows
- Laundry facilities or hookups in 5 units, with a dedicated laundry room currently on-site
- Management in place for seamless operations
Whether you’re looking to expand your investment portfolio or dive into the world of real estate, this property offers incredible rental history with long term management. To ensure a smooth transaction.
Potential buyers must demonstrate financial capability and sign a non-disclosure agreement. Purchaser to cooperate with 1031 exchange, and the seller is happy to collaborate with agents—no soliciting, please!
Don’t miss out on this fantastic opportunity to own a piece of Hoquiam history while making a smart investment in your future! Contact us today for more information and to schedule a viewing!

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
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 - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
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 Under Contract

Price $589,000
Price Per Unit $98,167
Sale Type Investment
Cap Rate 12.56%
Sale Conditions REO Sale
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.08 AC
Building Size 4,556 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1920/2018
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Pantry

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Picnic Area
  • Walk-Up
  • Smoke Detector

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
053400500601
Land Assessment
$15,640
Improvements Assessment
$202,718
Total Assessment
$218,358
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
  • Listing ID: 32657264

  • Date on Market: 8/1/2024

  • Last Updated:

  • Address: 620 Eklund Ave, Hoquiam, WA 98550

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