Bought with Better Properties NW
$1,725,000
$1,750,000
1.4%For more information regarding the value of a property, please contact us for a free consultation.
805 E 5th ST Port Angeles, WA 98362
13,750 SqFt
Key Details
Sold Price $1,725,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 13,750 sqft
Price per Sqft $125
Subdivision Port Angeles
MLS Listing ID 1669280
Sold Date 11/18/20
Style 56 - 10+ Units
Year Built 1962
Annual Tax Amount $9,406
Lot Size 0.322 Acres
Property Sub-Type Multi-Family
Property Description
VALUE ADD! The Panorama Manor Apartments is a 23-unit value add play located near downtown Port Angeles. The Panorama is offered for sale with an in-place 6% Cap Rate. The five most recent 1x1 units have been renting at $795 plus $40 in utility bill back, and the highest in-place 2x1 is priced at $995. The loss to lease on current rents amounts to a stabilized Cap Rate of 8.55%. Market surveys suggest that the market rents for partially remodeled 1x1 range between $895-$950. Debt options avail.
Location
State WA
County Clallam
Area _920Northeastporta
Interior
Interior Features Wall to Wall Carpet
Flooring Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete
Utilities Available Sewer Connected, Electric
View Y/N No
Roof Type Torch Down
Building
Lot Description Corner Lot
Sewer Sewer Connected
New Construction No
Schools
School District Port Angeles
Others
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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