616 Columbia Avenue, Bridgeport, WA 98813
- $475,000
- 4,228
- SqFt
Listing Broker: CB Cascade RE - Wenatchee; Paul Harrison; 509-670-6204; paul@cbcascade.com
- List Price
- $475,000
- Status
- ACTIVE
- MLS#
- 2484253
- Style
- 55 - 5-9 Units
- Building Condition
- Updated/Remodeled
- Finished SqFt
- 4,228
- Area Total SqFt
- 4228
- Annual Tax Ammount
- 1850
- Lot Size (sq ft)
- 18,295
- Sewer
- Sewer Connected
Property Description
Brand new roof on this Multifamily Investment Opportunity in Bridgeport with solid financials. Currently fully rented, this seven-unit apartment complex offers impressive returns with a strong 9.8% Net Cap Rate and Gross Rent Multiplier of 7! New improvements include a brand new commercial-grade TPO roof, interior remodels to three units, and new exterior paint. Lower operating costs and cheap utilities make this a high-efficiency investment. With the building totaling 4,228 square feet of one-level living, this property also features a shared laundry room and large backyard which includes a massive garden the tenants tend to. Located in a central area of Washington with stable rental demand. Ideal for investors seeking reliable cash flow and long-term upside. **Seller Financing Available** With reasonable financing terms from the Seller, you can acquire this great income-producing property AND keep the mortgage off your books, credit bureaus, debt to income ratios, etc. Leases and Financials available upon request. No Seller Equity Contract or Seller as Secondary Lein position Terms will be accepted whatsoever.
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Additional Information
- Community
- Bridgeport
- Net Operating Income
- $51,070
- Gross Adjusted Income
- $71,770
- Gross Scheduled Income
- $74,760
- Total Monthly Income
- $6,230
- Insurance Expenses
- $5,750
- Water/Sewer/Garbage Expenses
- $10,600
- Gross Rent Multiplier
- 6.02
- Total Expenses
- $20,700
- Cap Rate
- 11.3
- Vacancy Rate
- 4
- Total Number of Units
- 7
- Unit Name
- 616
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Year Built
- 1951
- Roof
- See Remarks
- Electric Expenses
- 2500
- Energy Source
- Electric
- School District
- Bridgeport
- Elementary School
- Bridgeport Elem
- Middle School
- Bridgeport Mid
- High School
- Bridgeport High
- Total Monthly Income
- $6,230
- Gross Scheduled Income
- $74,760
- Vacancy Rate
- 4
- Gross Adjusted Income
- $71,770
- Tax Year
- 2026
- Insurance Expense
- $5,750
- W/S/G Expenses
- $10,600
- Total Expenses
- $20,700
- Net Operating Income
- $51,070
- Gross Rent Multiplier
- 6.02
- Cap Rate
- 11.3
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.