Bought with Keller Williams Realty PS
$1,300,000
$1,275,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
5,376 SqFt
SOLD DATE : 08/14/2024
Key Details
Sold Price $1,300,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,376 sqft
Price per Sqft $241
Subdivision Eatonville
MLS Listing ID 2234960
Sold Date 08/14/24
Style 55 - 5-9 Units
Year Built 1984
Annual Tax Amount $7,740
Lot Size 0.413 Acres
Property Description
Washington South Apts. is a value-add turn-key community comprised of five 2-Bdrm & one 1-Bdrm units & coin-operated laundry. Currently, under-performing at a 7.0% cap rate, rents can be increased by an average of 13.59%. New windows, exterior paint and full unit remodels were done. All units have oversized decks or patios with unobstructed views of Mt. Rainier. Off-street parking for each unit. Centrally located w/in the downtown corridor of Eatonville offering short walking to grocery, restaurants, & parks. Make 1 or 2 units into Airbnb units for further income increases. Excess land can support an additional 2 to 4 units. Oversized bathrooms allow for possible addition of W/Ds to units. ATTACHED MARKETING PACKAGE IN SUPPLEMENTS.
Location
State WA
County Pierce
Area 125 - Eatonville
Interior
Interior Features Laminate Hardwood, Wall to Wall Carpet
Flooring Laminate, Carpet
Fireplace Yes
Exterior
Exterior Feature Wood
Amenities Available Cable TV, Deck, Dog Run, High Speed Internet
Waterfront No
View Y/N Yes
View Mountain(s), Territorial
Roof Type Composition
Building
Lot Description Alley, Curbs, Open Space, Paved, Sidewalk
Sewer Sewer Connected
Water Community
New Construction No
Schools
School District Eatonville
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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