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415 N 2nd Ave

Pasco, WA 99301
  • $860,000
  • STATUS: Contingent
  • ON SITE: 101 Days
  • ID#: 1809396
Under Contract
UPDATED: 47 min ago
$860,000
  • 0
    BEDS
  • 0.64
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,263
    SQFT
  • $137
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1945
County:

School Ratings & Info

School District:
Listing Courtesy of The Paragon Group.

Description

Value-add 13-unit in East Pasco. Amazing price per unit and proforma cap rate with a clear path to achieving market rents. This is a fantastic investment opportunity for any multifamily investor to create forced appreciation. Proforma rental rates come from neighboring properties, proving the ability to achieve market rent on this block. Property has been self-managed since 2008, creating an opportunity for immediate value with efficient and professional management. New management can reduce operating expenses, decrease vacancy from 25% to below 8%, and implement utility billback programs to capture immediate value.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Alchemy Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-10-26T17:16:06.62.

www.alchemyre.com/homes/119402801
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415 N 2nd Ave Pasco, WA 99301

  • Price: $860,000
  • Status: Contingent
  • Updated: 47 min ago
  • ID#: 1809396
0
Beds
0
Baths
0
½ Baths
0.64
Acres
6,263
SQFT
$137
$/SQFT
1945
Built
Neighborhood:
Pasco
County:
Franklin
Area:
Franklin County
School District:
Pasco
Property Description
Value-add 13-unit in East Pasco. Amazing price per unit and proforma cap rate with a clear path to achieving market rents. This is a fantastic investment opportunity for any multifamily investor to create forced appreciation. Proforma rental rates come from neighboring properties, proving the ability to achieve market rent on this block. Property has been self-managed since 2008, creating an opportunity for immediate value with efficient and professional management. New management can reduce operating expenses, decrease vacancy from 25% to below 8%, and implement utility billback programs to capture immediate value.
Exterior Features

Carport Spaces 0 Carport YN No Covered Spaces 0 Exterior Features See Remarks Open Parking Spaces 20 Open Parking YN Yes Parking Total 20 Parking Uncovered Spaces 20 Roof Composition Structure Type Multi Family Style Code 56 - 10+ Units View YN No Waterfront YN No

Interior Features

Building Area Total 6263 Fireplace YN No Flooring Laminate Furnished Unfurnished Heating Cooling Type Wall Heating YN Yes Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Association Fee 0 Association Fee Frequency Annually Electric On Property YN No Energy Source Electric FIRPTAYN No First Right Of Refusal No Irrigation Water Rights YN No Listing Terms ConventionalRehab Loan Net Operating Income 42135 New Construction YN No Possession Closing Possible Use Multi-Family Power Company Franklin Pud Power Production Type Electric Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Sewer Company City Of Pasco Special Listing Conditions None Tax Annual Amount 4631 Tax Year 2020 Units In Building Total 13 Utilities Sewer ConnectedElectricity Available Water Company City Of Pasco Water Source Public Zoning Class Multi-Family Zoning Jurisdiction City

Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Alchemy Real Estate and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Alchemy Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-10-26T17:16:06.62.

 
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Alchemy Real Estate
2921 Eastlake Ave E
Seattle WA, 98102
Listing Courtesy of The Paragon Group.