Property Details

109 W Main Street
Elma, WA 98541
$295,000
MLS# 2056845 courtesy of NWMLS Listing firm: G Anderson Group LLC

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109 W Main Street , Elma, WA 98541, Elma

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109 W Main Street , Elma, WA 98541, Elma

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Commercial
Property Type
1,692
Bldg Sq Ft
4
Units
5.20%
Cap Rate
1889
Year Built

Property Overview

Own a piece of Elma's history! Situated on a prominent corner in the heart of downtown Elma, this charming mixed-use building dates back to the late 1800s and is filled with character that simply can't be replicated. Offering a unique blend of commercial and residential income potential, the property is currently home to a hair salon and contractor's office on the main level, with a comfortable 1-bedroom, 1-bath apartment occupying the upper floor. Over the years, the building has undergone numerous updates while maintaining its historic charm, including a newer roof, interior and exterior paint, updated bathrooms, flooring, lighting fixtures, and more. A detached 576-square-foot garage provides additional storage space with two separate storage areas, creating even more flexibility for tenants or owners. Whether you're seeking an investment property, owner-user opportunity, or a 1031 exchange replacement property, this well-maintained downtown landmark offers excellent visibility, multiple income streams, and a prime location along Elma's bustling Main Street. Don't miss the chance to own a timeless piece of downtown Elma with endless possibilities for the future.

Property Details

Property Information

Property Type Commercial Sale
Subtype Commercial Industrial
Status Active
County Grays Harbor
Neighborhood Elma
Listed Apr 17, 2023
Original Price $329,000
Parcel Number 043000100301

Tax & HOA

Annual Property Tax $2,038 (2023)
Est. Monthly Tax $170/mo

Financial Summary

Cap Rate 5.20%
Net Operating Income $16,958
Gross Scheduled Income $27,600
Total Actual Rent $2,300/mo
Vacancy Rate 4.0%

Building & Use

Building Sq Ft 1,692
Total Units 4
Sq Ft Rented 2,268
Zoning Commercial
Possible Use Commercial
Lot Size 7,945 sqft
Year Built 1889

Exterior & Lot

Lot Size 0.18 sqft
Year Built 1889
Exterior Materials Wood
Sewer Available, Sewer Connected
Water Source Public
Exterior Features Wood, Wood Products

Community & Access

Directions West on Hwy 12 towards Ocean Shores, take 2nd Elma exit to right on S. 3rd Street to right on W. Main Street to property on right. Street parking available or pull to alley way in back.

Location

City Elma
County Grays Harbor
Coordinates 47.00414, -123.40200

Additional Information

Tax Year 2023
Annual Taxes $2,038
Possession Array
Listed By
Gary Anderson
G Anderson Group LLC

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