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Listed by:Real Broker LLC • James Nam
$999,950
Est. payment /mo
8 Beds
5 Baths
4,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 4,600 sqft
Price per Sqft $217
Subdivision Summit
MLS Listing ID 2500263
Style 54 - 4-Plex
Bedrooms 8
Year Built 1984
Annual Tax Amount $13,440
Lot Size 6.880 Acres
Property Sub-Type Multi Family
Property Description
This is a great opportunity to have an instant cash return on an investment. The rents are currently below market, and by increasing them the cap rate could reach as high as 7.5%. The property consists of two duplexes featuring two 2 bedroom, 1 bathroom units, one 2 bedroom, 1.5 bathroom unit, and one 2 bedroom, 2.5 bathroom unit, with each unit offering its own fireplace. The buildings are very well maintained and include a 2 car garage along with an additional 3 car garage, plus two covered parking stalls. The total parcel spans 7 acres in a fantastic location. Planning and Zoning has indicated they would consider a plan for cluster development. Additional features include a new roof installed in 2018 and fully paid off solar panels. Showings are available upon a signed agreement.
Location
State WA
County Pierce
Area 66 - Parkland
Interior
Flooring Hardwood, Carpet
Fireplace false
Exterior
Exterior Feature Wood Products
Garage Spaces 5.0
Amenities Available Deck
View Y/N No
Roof Type Composition
Building
Lot Description Dead End Street, Open Space, Secluded, Value In Land
Sewer Septic Tank
Water Public
New Construction No
Schools
School District Franklin Pierce
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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