NOT LISTED FOR SALE

1509 9th St Port Townsend, WA 98368

Estimated Value: $6,023,806

-- Bed
6 Baths
21,020 Sq Ft
$287/Sq Ft Est. Value

Last Sold April 01, 2021

Last sale price $4,500,000 $214 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $36,525/month

23 Days on Market

Highlights

  • Corner Lot
  • Port Townsend High School Rated 9+
  • Wood Siding

About This Home

As of April 2021

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.

Last Listed By

Tyler Smith

Northmarq Multifamily, LLC License #24028396 Listed on: 11/18/2020

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1691058

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,920

Year Built

  • Built in 2003

Lot Details

  • 0.92 Acre Lot
  • Corner Lot

Home Design

  • Composition Roof
  • Wood Siding

Interior Spaces

  • 21,020 Sq Ft Home
  • 2-Story Property

Parking

  • 30 Parking Spaces
  • Open Parking

Community Details

  • Castle Hill Subdivision

Listing and Financial Details

  • Assessor Parcel Number 948320601

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,920

Year Built

Built in 2003

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 2003
  • Buyer Agency Compensation: 2
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 21020
  • Special Features: None
  • Cumulative Days on Market: 274

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Corner Lot
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 30
  • Open Parking: Yes
  • Total Parking Spaces: 30
  • ParkingUncoveredSpaces: 30

Utilities

  • Sewer: Sewer Connected
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • WaterSewerGarbage: 22535

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Port Townsend #50

Lot Info

  • Parcel Number: 948320601
  • Lot Size Acres: 0.9195
  • Lot Size Sq Ft: 40052
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Jefferson County Assessor
  • ZoningJurisdiction: County
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 13
  • LeasedItems: None
  • TotalMonthlyIncome: 29705

Multi Family

  • Gross Scheduled Income: 354460
  • Net Operating Income: 228745
  • Number Of Units Total: 24
  • Insurance Expense: 5905
  • Leasable Area: 21020
  • EnergySource: Electric
  • UnitsInBuildingTotal: 24
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2020
  • Tax Annual Amount: 20920

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 18, 2020
Closed on
Mar 29, 2021
Sold by
1509 9Th St Llc
Bought by
Gomez Edward C and Mack Ellen E
Seller's Agent
Tyler Smith
Northmarq Multifamily, LLC
Buyer's Agent
Michelle Sandoval
Windermere R.E. Port Townsend
List Price
$4,600,000
Sold Price
$4,500,000
Premium/Discount to List
-$100,000
-2.17%
Total Days on Market
23
Current Estimated Value
$6,023,806

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,523,806
Avg. Annual Appreciation
7.94%

Purchase Details

Closed on
Feb 26, 2020
Sold by
Puget Sound Apartments Llc
Bought by
1509 9Th St Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,900,000
Interest Rate
3.6%
Mortgage Type
Unknown

Purchase Details

Closed on
Dec 22, 2015
Sold by
Rigby M Douglas and Rigby Karrey L
Bought by
Puget Sound Apartments Llc

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Gomez Edward C $4,500,000 Chicago Title Company Of Wa
1509 9Th St Llc $2,897,600 Chicago Title Company Of Wa
Puget Sound Apartments Llc $280 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner 1509 9Th St Llc $2,654,584
Previous Owner 1509 9Th St Llc $2,900,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/01/2021 04/01/21 Sold $4,500,000 -2.2% $214 / Sq Ft
12/11/2020 12/11/20 Pending -- -- --
11/18/2020 11/18/20 For Sale $4,600,000 -- $219 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $37,546 $4,189,156 $615,624 $3,573,532
2022 $33,093 $4,003,987 $600,624 $3,403,363
2021 $20,395 $3,417,180 $357,328 $3,059,852
2020 $20,920 $2,031,121 $357,328 $1,673,793
2019 $18,641 $2,031,121 $357,328 $1,673,793
2018 $14,969 $1,963,833 $290,040 $1,673,793
2017 $14,013 $1,378,500 $201,500 $1,177,000
2016 $13,471 $1,378,500 $201,500 $1,177,000
2015 $13,590 $1,378,500 $201,500 $1,177,000
2014 -- $1,378,500 $201,500 $1,177,000
2013 -- $1,378,500 $201,500 $1,177,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1691058

Northwest Multiple Listing Service (NWMLS)

APN: 948320601