Property Details
301 W 3rd Street
Aberdeen, WA 98520
$1,250,000
Active
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Property Overview
Excellent opportunity to own a classic two-story, 14-unit multifamily apartment complex in Aberdeen. Built in 1923, this property showcases the charm and character of early 20th-century apartment design while offering functional, diverse living spaces that support strong rental appeal. Conveniently located remarkably close to everyday services, shopping, dining, transit, and local amenities, and situated directly across from a school, this property offers a central location tenants appreciate. The unit mix includes two true studio apartments, six studios with bonus rooms, four one-bedroom units, and two two-bedroom apartments, creating flexibility for a variety of rental needs. With a strong and consistent rental history based on a conservative vacancy rate, this property delivers an attractive cap rate and proven income performance. Its combination of historic character, steady demand, and practical unit variety makes it a compelling option for investors seeking stability, cash flow, and long-term value. Whether you are expanding your portfolio or looking for a well-positioned multifamily asset in an established Aberdeen neighborhood, this 14-unit property is worth a closer look. Buyer to verify all information, financials, zoning, rental history, condition, and due diligence to their satisfaction. Active maintenance in progress. Will provide entry to all Apartments after Mutual. MUST give at least 48+ hrs. time to post notices for ALL showings. Will place RE Sign shortly.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Grays Harbor
Neighborhood
West Aberdeen
Listed
Jul 13, 2026
Structure Type
Multi Family
Parcel Number
029404700100
Tax & HOA
Annual Property Tax
$8,990 (2026)
Est. Monthly Tax
$749/mo
Financial Summary
Cap Rate
5.90%
Net Operating Income
$67,840
Gross Scheduled Income
$115,800
Gross Rent Multiplier
10.30
Total Expenses
$43,659
Vacancy Rate
28.0%
Building & Use
Building Sq Ft
10,000
Leasable Area
10,000 sqft
Total Units
14
Zoning
Residential
Possible Use
Residential
Lot Size
6,534 sqft
Year Built
1923
Exterior & Lot
Lot Size
0.15 sqft
Year Built
1923
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Curbs, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Community & Access
Directions
From WA 101 N (Wishkah St): Turn right on N Broadway St, Turn Left on W 3rd St, Subject Property will be on the Left. GPS Works!!!
Location
City
Aberdeen
County
Grays Harbor
Coordinates
46.97591, -123.82379
Additional Information
Tax Year
2026
Annual Taxes
$8,990
Possession
Array
Based on information submitted to the MLS GRID as of July 29, 2026 2:21 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
