703 W Stanley St, Granite Falls, WA 98252

$484,990
2,400
SqFt

Listing courtesy of John L. Scott Everett.

List Price
$484,990
Status
ACTIVE
MLS#
1402800
Price Change
▼ $4,510 1555539139
Days on Market
159
Style
52 - Duplex
Building Condition
['Remodeled']
Finished SqFt
2,400
Lot Size (sq ft)
8,276

Property Description

Apartment and restaurant building with 6.4% CAP. This is a great opportunity to own a high performing building with stable tenants. Subway has leased the bottom portion since 2002. Very stable income with no vacancy during the current ownership. This building has huge future potential as Granite Falls continues to grow with hundreds of housing starts scheduled. Selling at a significant discount to it's $623,720 value at a 5% cap rate. You better snatch this up before someone else does.

Additional Information

List Date
2019-01-18 00:00:00
Community
Granite Falls
Property Type
MULT
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1996
Total Parking
7
Uncovered Parking
7
Exterior
Wood, Wood Products
Roof
Composition
Lot Details
Paved Street
School District
Granite Falls
Total Monthly Income
$3,149
Gross Scheduled Income
$37,788
Gross Adjusted Income
$31,186
Annual Taxes
$4,142
Tax Year
2018
Insurance Expense
$960
Total Expenses
$6,602
Net Operating Income
$31,186
Gross Rent Multiplier
16
Cap Rate
6

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
2.00
Unit 1 Size
1200
Unit 1 Rent
$960
Unit 2 Size
1200
Unit 2 Rent
$2,189
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