Courtesy: Riley Jackson Real Estate Inc.
360-753-8000
Kayci Rebal
Investment Opportunity – Updated Multi-Family Duplex Property with Development Potential Excellent opportunity to acquire a well-maintained multi-family asset consisting of two freestanding duplex buildings (4 units total) with an attractive mix of unit sizes and strong long-term upside. Each building includes: • One spacious 3BR / 1.5BA unit (~1,624 SF) • One 2BR / 1.5BA unit (~920 SF) The larger units feature functional layouts including a main-level bedroom and generous bonus living area, creating flexible living space that appeals to both owner-occupants and tenants. Recent Capital Improvements • Units #11 & #15: Fully remodeled within the past three years including updated kitchens, bathrooms, flooring, and interior paint. • Units #12 & #16: Partially updated with refreshed kitchens and newer flooring. • Property-Wide Improvements: Newer appliances, roofs, and water heaters across all units. Parking Each unit includes an attached private garage, a highly desirable feature for tenants and future resale value. Development Upside. Situated on a large lot with additional build potential, the property offers opportunities for further expansion or redevelopment. Investors may also purchase individually or combine with adjacent property (NWMLS #2433761) for a larger assemblage and expanded development possibilities. A compelling combination of current income, recent upgrades, and future development potential.
Courtesy: Riley Jackson Real Estate Inc.
360-753-8000
Kayci Rebal
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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Elma is located in Washington. Elma, Washington has a population of 3,390. Elma is less family-centric than the surrounding county with 18.06% of the households containing married families with children. The county average for households married with children is 23.25%.
The median household income in Elma, Washington is $69,405. The median household income for the surrounding county is $53,615 compared to the national median of $69,021. The median age of people living in Elma is 41.7 years.
The average high temperature in July is 77 degrees, with an average low temperature in January of 34.5 degrees. The average rainfall is approximately 73.7 inches per year, with 2.5 inches of snow per year.
