721 N K Street, Aberdeen, WA

About 721 N K Street

Turnkey Aberdeen multifamily investment with immediate cash flow and additional upside! This fully occupied 7-unit property features six 1 bed/1 bath units and one 2 bed unit, generating approximately $6,920/month in gross rental income with an estimated 6.71% cap rate. Units 5 and 6 offer potential conversion to 2-bedroom layouts, plus a potential 8th one-bedroom unit is already framed in the basement for future completion. Significant improvements include a new roof in 2021, updates throughout the units, new commercial water heater and sewer line in 2023, extensive building and deck reinforcement, exterior paint in 2025, approximately $30k in plumbing repairs/replacements, and mostly updated electrical. Great opportunity for rent increases with upgrades throughout. Fully rented and turn-key with substantial improvements already completed. A unique opportunity to acquire a stabilized multifamily asset with strong existing income and additional value-add potential!

Listing Map