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Bayview Apartments 306 W 1st St

12 Unit Block of Flats £1,017,146 (£84,762/Unit) 5.22% Net Initial Yield Port Angeles, WA 98362

Executive Summary

Own a piece of Port Angeles history! Bayview Apartments has been a landmark in downtown Port Angeles since 1921. With 12 units there is
constant cashflow and these units are in high demand and rent instantly. The yearly income is over $148K and the current owners have
spent the last seven years going through the units and doing repairs and upgrades. At this point, the building is in great shape and future
expenses should be minimal. The unfinished bottom story provides an opportunity to expand the building by 50% without a lot of expense
meaning that cashflow can easily increase with some additional investment.

Property Facts

Price £1,017,146
Price Per Unit £84,762
Sale Type Investment
Net Initial Yield 5.22%
No. Units 12
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.16 AC
Building Size 11,856 SF
Number of Floors 3
Year Built/Renovated 1921/2023
Opportunity Zone Yes

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 1 - -
1+1 7 - -
2+1 4 - -

zoning

Zoning Code Commerical
Commerical
  • Listing ID: 33617376

  • Date on Market: 23/10/2024

  • Last Updated:

  • Address: 306 W 1st St, Port Angeles, WA 98362

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