940 Water St $2,995,000


    940 Water St Port Townsend, WA 98368

    • 0 Beds
    • 0 Baths
    • 14,190 sq.ft.
    • Multi-Family
    Listing# 1501609 | Active
    Days On Market: 74 10 Views
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    Property Details

    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 towns neighborhood shops/restaurants. Likely 6% cash-on-cash return and 7% cap based on current rents and expenses. Likely financeable with just 25% down.

    • General Features
      • County Jefferson
      • County Jefferson
      • Lot Details Corner Lot, Curbs, Paved Street, Sidewalk
      • Lot Square Footage 5,663
      • Number of Stories 4
      • Number of Units 17
      • Selling Office Commission 2.5
      • Site Features Cable TV, High Speed Internet
      • Style 56-10+ Units
      • View Bay, Partial
      • Year Built 1889
    • Building Features
      • Roof Flat, Torch Down
      • Exterior Brick
      • Amenities Basement, Coin Op Laundry, Storage
      • Approx SqFt 14,190
    • Financials
      • Total Monthly Income $24,824
      • Net Operating Income $209,045
      • Gross Scheduled Income $297,891
      • Gross Adjusted Income $282,996
      • Total Expenses $73,951
      • Other Expenses $28,800
      • Insurance Expenses $8,500
      • Expenses $73,951
      • Heating Expenses $0
      • Electrical Expenses $0
      • Gross Rent Multiplier 8
    • Utilities and Taxes
      • Tax Year 2019
      • Tax Amount $13,616
      • Energy Source Electric
      • Heating and Cooling Baseboard
      • Sewer Company Sewer Connected
    • Schools
      • School District Port Townsend #50
      • Senior High Port Townsend High
      • Junior High Blue Heron Mid
      • Elementary School Salish Coast Element



    98368 (Port Townsend) Demographics

    57Median Age
    291Population Density (per sq. mile)
    56%College Educated
    $48,738 Estimated Median Income
    4,955Estimated Total Home Owners
    2,204Estimated Total Renters
    69% / 31%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    15,478Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $458,500 Median Sales Price
    28 Homes Sold
    0 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $2,995,000
        8/6/2019 11:51:00 AM New in Database Source

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        This property search is part of the Reliance Network website. Listing information is courtesy of the WA-NWMLS and Reliance Network. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2019. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.