821 Bay St, Port Orchard, WA 98366
- $670,000
Listing courtesy of G Anderson Group LLC.
- List Price
- $670,000
- Status
- PENDING
- MLS#
- 2322533
- Price Change
- ▼ $30,000 1762826282
- Days on Market
- 531
- Annual Tax Ammount
- 5640
- Internet Provider
- Astound
Property Description
This property is a passive income lover's dream. Three residential Tenants make up the top floor and three commercial Tenants make up the bottom. Renegotiations can be discussed regarding potential longer-Term leases for the commercial Tenants and the residential Tenants consist of your typical 12 month Terms. Additionally, a new owner would receive income from 6 parking stalls at the rear of the property. Yearly expenses are kept low, which helps yield a current CAP rate over 8%. With all of the improvements coming to downtown Port Orchard over the next 5 years, a new owner would have the ability to receive the income from a fully leased out, prime location property, while potentially achieving mid to high levels of appreciation.
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Additional Information
- Community
- Port Orchard
- Building Condition
- Fair
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1900
- # of Assigned Spaces
- 12
- Waterfront
- Yes
- Waterfront Description
- Sound
- Roof
- Composition
- Potential Terms
- Cash
- Flooring
- Hardwood
- Driving Directions
- From Silverdale-WA-3S through Gorst. Left lane to WA-166E toward Port Orchard for 3 miles onto Bay St. Building on the left.
- Other Expenses
- 7659
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $58,311
- Gross Adjusted Income
- $87,210
- Gross Scheduled Income
- $91,800
- Water/Sewer/Garbage Expenses
- $9,600
- Cap Rate
- 8.33
- Vacancy Rate
- 5
- Total Expenses
- $28,899
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.