527 E First Street, Port Angeles, WA 98362
- $1,499,000
- 9,340
- SqFt
Listing courtesy of John L. Scott, Inc.
- List Price
- $1,499,000
- Status
- ACTIVE
- MLS#
- 2461143
- Price Change
- ▼ $26,000 1783651007
- Days on Market
- 225
- Style
- 56 - 10+ Units
- Finished SqFt
- 9,340
- Area Total SqFt
- 9340
- Annual Tax Ammount
- 7182
- Lot Size (sq ft)
- 7,000
- Sewer
- Sewer Connected
Property Description
The Morning Apartments is a 12-unit community located in Downtown Port Angeles. Originally built in 1953, significant improvements have been made on the property in order for it to perform as well as it does. Units have all been freshly renovated while preserving the historic charm of wood cabinetry & hardwood floors. Morning Glory consists of nine one-bedroom,one-bathroom units averaging ±711 square feet & two two-bedroom, one-bathroom units averaging ±988 square feet, and one three bedroom, one-bathroom unit of approximately 968 square feet. The apartment has two shared washers and two shared dryers. At a purchase price of $1,600,000, Morning Glory offers great value to a buyer at $133,333 per unit, $171 per foot, with solid operations.
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Additional Information
- List Date
- 2025-12-16 17:39:33
- Community
- Port Angeles
- Net Operating Income
- $142,577
- Gross Adjusted Income
- $219,060
- Gross Scheduled Income
- $199,380
- Total Monthly Income
- $18,255
- Insurance Expenses
- $8,004
- Water/Sewer/Garbage Expenses
- $25,232
- Gross Rent Multiplier
- 8.02
- Total Expenses
- $76,483
- Cap Rate
- 8.91
- Vacancy Rate
- 5
- Total Number of Units
- 12
- Unit Name
- 527
- Potential Terms
- Cash, Conventional
- Year Built
- 1953
- Roof
- Flat
- Other Expenses
- 36065
- Energy Source
- Electric
- School District
- Port Angeles
- Total Monthly Income
- $18,255
- Gross Scheduled Income
- $199,380
- Vacancy Rate
- 5
- Gross Adjusted Income
- $219,060
- Tax Year
- 2025
- Insurance Expense
- $8,004
- W/S/G Expenses
- $25,232
- Total Expenses
- $76,483
- Net Operating Income
- $142,577
- Gross Rent Multiplier
- 8.02
- Cap Rate
- 8.91
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.