940 Water St

    Port Townsend, WA 98368
    • $2,995,000
    • STATUS: Pending Inspection
    • ON SITE: 100 days
    • ID#: 1501609
    Under Contract
    UPDATED: 72 min ago
    $2,995,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,190
      SQFT
    • $211
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1889
    County:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:
    Listing Courtesy of Kidder Mathews.

    Description

    Located in an Opportunity Zone, the James & Hasting Building is an 1889-built, four-story brick and stone structure with magnificent architectural aesthetics. The property benefits from a profitable operation history with long-term tenants and very low turnover, and residents enjoy their walkable location near many of the town's neighborhood shops/restaurants. Likely 6% cash-on-cash return and 7% cap based on current rents and expenses. Likely financeable with just 25% down.

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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 Pickett Street Properties are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-11-15T15:16:57.337.

    www.pickettstreetproperties.com/homes/97637316

    940 Water St Port Townsend, WA 98368

    • Price: $2,995,000
    • Status: Pending Inspection
    • Updated: 72 min ago
    • ID#: 1501609
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    14,190
    SQFT
    $211
    $/SQFT
    1889
    Built
    Neighborhood:
    Downtown
    County:
    Jefferson
    Area:
    Port Townsend
    Elementary School:
    Salish Coast Element
    Middle School:
    Blue Heron Mid
    High School:
    Port Townsend High
    School District:
    Port Townsend #50
    Property Description
    Located in an Opportunity Zone, the James & Hasting Building is an 1889-built, four-story brick and stone structure with magnificent architectural aesthetics. The property benefits from a profitable operation history with long-term tenants and very low turnover, and residents enjoy their walkable location near many of the town's neighborhood shops/restaurants. Likely 6% cash-on-cash return and 7% cap based on current rents and expenses. Likely financeable with just 25% down.
    Exterior Features

    Carport Spaces 0 Exterior Brick Garage Spaces 0 Lot Details Corner LotCurbsPaved StreetSidewalk Roof FlatTorch Down Stories In Building 4 Style 56 - 6-9 Units Total Parking Spaces 0 Uncovered Spaces 0 View BayPartial

    Interior Features

    Heating And Cooling Baseboard Unit1 Bathrooms 0.00 Unit1 Bedrooms 0 Unit1 Dishwasher N Unit1 Fireplaces 0 Unit1 Range Oven N Unit1 Refrigerator N Unit1 Sq Ft 300 Unit1 Washer Dryer N Unit2 Bathrooms 1.00 Unit2 Bedrooms 2 Unit2 Dishwasher N Unit2 Fireplaces 0 Unit2 Range Oven Y Unit2 Refrigerator Y Unit2 Sq Ft 1013 Unit2 Washer Dryer N Unit3 Bathrooms 0.00 Unit3 Bedrooms 0 Unit3 Dishwasher N Unit3 Fireplaces 0 Unit3 Range Oven N Unit3 Refrigerator N Unit3 Sq Ft 979 Unit3 Washer Dryer N Unit4 Bathrooms 0.00 Unit4 Bedrooms 0 Unit4 Fireplaces 0 Unit4 Sq Ft 0 Unit5 Bathrooms 0.00 Unit5 Bedrooms 0 Unit5 Fireplaces 0 Unit5 Sq Ft 0 Unit6 Bathrooms 0.00 Unit6 Bedrooms 0 Unit6 Fireplaces 0 Unit6 Sq Ft 0 Units Below Grade Y

    Property Features

    Amenities BasementCoin Op LaundryStorage Bank Owned No Cap Rate 7.00 Electrical Expenses 0 Energy Source Electric EPSEnergy 0 Form17 Provided General Zoning Classification CommercialMulti-Family Gross Adjusted Income 282996 Gross Rent Multiplier 8 Gross Scheduled Income 297891 Heating Expenses 0 Hers Index 0 Home Owner Dues 0 Insurance Expenses 8500 Leased Items None Net Operating Income 209045 New Construction YN No Other Expenses 28800 Possession Closing Right Of First Refusal No Septic Approved For Number Of Bedrooms 0 Sewer Sewer Connected Site Features Cable TVHigh Speed Internet Tax Amount 13616 Tax Year 2019 Terms Cash OutConventional Third Party Approval Required None Total Expenses EXP 73951 Total Expenses TEX 73951 Total Monthly Income 24824 Unit1 Monthly Rent 686 Unit2 Monthly Rent 1524 Unit3 Monthly Rent 1740 Unit4 Monthly Rent 0 Unit5 Monthly Rent 0 Unit6 Monthly Rent 0 Vacancy Rate 5 Water Sewer Garbage 23035 Water Source Public

    Listing information © 2019 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 Pickett Street Properties 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 Pickett Street Properties are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-11-15T15:16:57.337.

     
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    Listing Courtesy of Kidder Mathews.