Bought with eXp Realty
$7,775,000
$7,900,000
1.6%For more information regarding the value of a property, please contact us for a free consultation.
39,435 SqFt
SOLD DATE : 05/07/2021
Key Details
Sold Price $7,775,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 39,435 sqft
Price per Sqft $197
Subdivision Parkland
MLS Listing ID 1681200
Sold Date 05/07/21
Style 56 - 10+ Units
Year Built 1969
Annual Tax Amount $61,815
Lot Size 2.231 Acres
Property Description
64 Units,Garden style,Market CAP Rate 5.6%,Less than $125k per unit with potential income upside up to 18+%,Over the past 5 years rents have increased 16% in Parkland,minutes to PLU & 10 minutes to downtown Tacoma,new roofs with transferable warranties all buildings,new siding on multiple south&west sides of the buildings,dual pane windows,upgraded landscaping & walkways between buildings.on-site office,on-site laundry,dishwashers,oversized closets add interior laundry to increase rents more.
Location
State WA
County Pierce
Area 63 - Parkland
Interior
Interior Features Forced Air, Wall to Wall Carpet, Laminate Hardwood
Flooring Laminate, Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Wood
Utilities Available Cable Connected, Sewer Connected, Electric
Amenities Available Cable TV
View Y/N Yes
View Territorial
Roof Type Flat
Building
Lot Description Corner Lot, Curbs, Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Tacoma
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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