Investment Overview

The Morning Apartments is a twelve-unit community located in Downtown Port Angeles. Originally built in 1953, significant improvements have been made on the property in order for it to perform as well as it does. Units have all been freshly renovated while preserving the historic charm of wood cabinetry and hardwood floors. Morning Glory consists of nine one-bedroom, one-bathroom units averaging ?711 square feet, and two two-bedroom, one-bathroom units averaging ?988 square feet, and one three-bedroom, one-bathroom unit of approximately 968 square feet. The apartment has two shared washers and two shared dryers. At a purchase price of $1,600,000, Morning Glory offers great value to a buyer at $133,333 per unit, $171 per foot, with solid operations. An incoming investor to undergo could come in and achieve over a 10% Cash-on-Cash return on day one.