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503-489-3929
Keller Williams South Sound
321 S Third Street, Shelton, WA 98584
- $550,000
- 6,320
- SqFt
Listing Broker: COMPASS; Zachary Lazo; 206-250-8017; zack.lazo@compass.com
- List Price
- $550,000
- Status
- ACTIVE
- MLS#
- 2596172
- Style
- 54 - 4-Plex
- Building Condition
- Updated/Remodeled
- Finished SqFt
- 6,320
- Area Total SqFt
- 6320
- Annual Tax Ammount
- 4895
- Lot Size (sq ft)
- 8,276
- Sewer
- Sewer Connected
Property Description
Strong rental income today, exciting potential for tomorrow! This centrally located Shelton fourplex is a great investment opportunity or an ideal house hack—live in one unit and let rent from the others help cover your mortgage payment. Each well-kept unit features 2 bedrooms and 1 bath, with one currently vacant, creating an opportunity for owner-occupied financing. Great long-term tenants occupy the other three units, and vacancies have historically been easy to fill. Renovated just a few years ago with a new roof, windows, and siding, the building also generates washer and dryer income. Nearly 3,000 square feet of unused storage space offers exceptional potential for added revenue, and a property management company is available for ongoing management. Established income, major updates, and room to build value!
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Additional Information
- Community
- Downtown
- Net Operating Income
- $44,701
- Gross Adjusted Income
- $63,120
- Gross Scheduled Income
- $63,120
- Total Monthly Income
- $5,260
- Insurance Expenses
- $5,886
- Water/Sewer/Garbage Expenses
- $6,825
- Gross Rent Multiplier
- 8.71
- Total Expenses
- $18,419
- Cap Rate
- 8.13
- Total Number of Units
- 4
- Unit Name
- 321
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1945
- Roof
- Composition
- Electric Expenses
- 813
- Energy Source
- Electric
- School District
- Shelton
- Total Monthly Income
- $5,260
- Gross Scheduled Income
- $63,120
- Gross Adjusted Income
- $63,120
- Tax Year
- 2026
- Insurance Expense
- $5,886
- W/S/G Expenses
- $6,825
- Total Expenses
- $18,419
- Net Operating Income
- $44,701
- Gross Rent Multiplier
- 8.71
- Cap Rate
- 8.13
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.