Norseman
Multifamily | 32 Units | $93,750/unit
Marketing description
Norseman Apartments is a well maintained 32-unit garden-style community built in 1979 at 1913 Coolidge Road in South Aberdeen, offering all two-bedroom, one-bath homes of approximately 840 square feet. Residents have quick access to US 12, major employers in Aberdeen and Hoquiam, and everyday conveniences near Grays Harbor College, the Bishop Center for Performing Arts, and the John Spellman Library, creating a practical and connected neighborhood setting. The property has received $654,470 in recent capital improvements, including roof replacements, siding replacements, foundation and framing repairs, and double-pane window replacements, along with various unit interior renovations. Every residence includes in-unit washer and dryer hookups, and with additional renovations there is a straightforward path to higher achievable rents while supporting stable occupancy.
Investment highlights
• Consistent unit mix: All 32 homes are spacious two- bedroom, one-bath layouts of approximately 840 square feet.
• Garden-style layout: Two-story walk-ups with surface parking in a low-density setting.
• Significant capital program: $654,470 invested across 2024–2025, including roof replacement (May 2024), siding replacement (July 2025), foundation and framing repairs (October 2025), and double-pane window replacements (July 2025).
• In-unit laundry ready: Washer and dryer hookups in every unit.
• Renovated inventory: A portion of homes have been upgraded with modern finishes including white cabinetry, refreshed surfaces, updated fixtures, ceiling-fan lighting, and new sinks.
• Building systems: PVC supply piping and original electrical panels reported as compliant.
• Large floor plans: The approximately 840-square-foot
two-bedroom homes are larger than many local comparables, supporting stronger rent targets and resident retention.
• Operational simplicity: Uniform floor plans, similar systems, and consistent finishes reduce turn costs and speed leasing.
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