102 Garden Hill Road W, Elma, WA 98541
- $1,100,000
- 5,088
- SqFt
Listing courtesy of Riley Jackson Real Estate Inc..
- List Price
- $1,100,000
- Status
- ACTIVE
- MLS#
- 2480941
- Days on Market
- 342
- Style
- 54 - 4-Plex
- Building Condition
- Average
- Finished SqFt
- 5,088
- Lot Size (sq ft)
- 391,604
Property Description
Exceptional investment and future development opportunity in Elma. Two duplexes (4 total rental units) situated across three adjoining parcels totaling 8.99 acres with GR – General Residential zoning.Current NOI of $40,281 with rents slightly below market, offering immediate upside through rent adjustments. Property is served by City water with septic systems in place; sewer connections are nearby (buyer to verify availability and capacity). No floodplain issues reported.Ample frontage on Garden Hill Rd provides strong access and potential layout flexibility for future development. Adjoining parcels include areas of commercial-grade alder timber, adding additional value components.Rare opportunity to acquire nearly 9 acres with in-place income — ideal for investors seeking land banking with cash flow or developers exploring subdivision potential. Shown by appointment only. Do not disturb tenants.
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Additional Information
- List Date
- 2025-08-20 21:58:11
- Community
- Strawberry Hill
- Potential Terms
- Cash, Conventional
- Year Built
- 1979
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, High Speed Internet
- School District
- Elma
- Total Monthly Income
- $4,450
- Gross Scheduled Income
- $53,400
- Gross Adjusted Income
- $53,400
- Tax Year
- 2026
- Insurance Expense
- $1,825
- W/S/G Expenses
- $4,395
- Total Expenses
- $14,778
- Net Operating Income
- $40,281
- Gross Rent Multiplier
- 17.17
- Cap Rate
- 3.66
Mortgage Calculator
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.