Listing ID: 1691058
Sold For: $4,500,000
Status: Closed
Address: 1509 9th Street
City: Port Townsend
State: Washington
Postal Code: 98368
SqFt: 21,020
Acres: 0.920
County: Jefferson
Port Townsend
Located in Port Townsend, the Puget Sound Apartments consists of 24 units built in the mid 2000’s. All units are spacious 2 bedroom / 1 bath layouts with 6 units offering in unit laundry and the remaining 18 units utilizing a common laundry room with coin-operated laundry machines. The structure is built to combat the Pacific Northwest weather with pitched composite roofs, Hardi Plank cement board siding and double pane vinyl windows. There is ample parking for residents with 30 spaces on site.

Primary Features

County: Jefferson
Property Sub Type: Multi-Family
Property Type: Residential Income
Subdivision: Castle Hill
Year Built: 2003


Building Area Units: Square Feet
Furnished: Unfurnished
Heating Cooling Type: Baseboard
Living Area Units: Square Feet
Stories Total: 2


Elevation Units: Feet
Exterior Features: Wood
Lot Features: Corner Lot
Lot Size Square Feet: 40052
Lot Size Units: Square Feet
MLS Lot Size Source: Jefferson County Assessor
Number Of Units Total: 24
Open Parking Spaces: 30
Parking Total: 30
Parking Uncovered Spaces: 30
Roof: Composition
Sewer: Sewer Connected
Structure Type: Multi Family
Style Code: 56 - 10+ Units
Units Below Grade: false
Units In Building Total: 24
Utilities: Sewer Connected, Electricity Available
Water Sewer Garbage: 22535


Building Area Total: 21020
Country: US
High School District: Port Townsend #50
MLS Area Major: 480 - Port Townsend
Waterfront: no
Zoning Class: Multi-Family
Zoning Jurisdiction: County


Mls Status: Sold
Offers: Seller intends to review offers upon receipt
Possible Use: Multi-Family
Power Production Type: Electric
Preliminary Title Ordered: yes


Buyer Financing: Exchange
Cap Rate: 4.97
Gross Adjusted Income: 338637
Gross Rent Multiplier: 13
Gross Scheduled Income: 354460
Insurance Expense: 5905
Leasable Area: 21020
Leasable Area Units: Square Feet
Leased Items: None
Net Operating Income: 228745
Other Expense: 60532
Possession: Closing
Sale Type: MLS
Seller Disclosure: Provided
Special Listing Conditions: None
Tax Annual Amount: 20920
Tax Year: 2020
Total Expenses: 109892
Total Monthly Income: 29705
Vacancy Rate: 5

Zoning Info

Area Info

The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by Heaton Dainard, LLC (2412) and should be verified by the buyer. © 2023 NWMLS. All rights reserved. Data last updated: Thursday, March 30th, 2023 08:28:02 PM.
Closed Listing courtesy of Westlake Associates, Inc.
Closed Listing courtesy of Westlake Associates, Inc.

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