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14117 C Street S

Tacoma, WA 98444
  • $5,995,000
  • STATUS: Pending
  • ON SITE: 49 Days
  • ID#: 1852841
Under Contract
UPDATED: 23 min ago
$5,995,000
  • 0
    BEDS
  • 1.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 20,400
    SQFT
  • $294
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1972
County:
Area:

School Ratings & Info

School District:
Listing Courtesy of Westlake Associates, Inc..

Description

Hudson Court provides an opportunity to acquire a fully renovated building in a growing developing community just blocks away from Pacific Lutheran University. At the asking price of $5,995,000, the underwriting poses an in-place 5.11% cap rate with a market cap rate of 5.68% on current asking rents. The average 1x1 is in-place at $1084, however most recent 1x1 have rented for $1225. The average 2x1 sits at $1280 with the most recent rent being $1395. This provides 10% rental upside on the proven most recent leasing activity. There is also the opportunity to further pursue the feasibility of adding laundry to the units. Adding laundry demonstrates possible upside of 25%-40% rental upside!

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Keller Williams Western Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-12-02T20:14:42.177.

www.kwbellingham.net/homes/122333099
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14117 C Street S Tacoma, WA 98444

  • Price: $5,995,000
  • Status: Pending
  • On Site: 49 Days
  • Updated: 23 min ago
  • ID#: 1852841
0
Beds
0
Baths
0
½ Baths
1.12
Acres
20,400
SQFT
$294
$/SQFT
1972
Built
Neighborhood:
Brookdale
County:
Pierce
Area:
Parkland
School District:
Tacoma
Property Description
Hudson Court provides an opportunity to acquire a fully renovated building in a growing developing community just blocks away from Pacific Lutheran University. At the asking price of $5,995,000, the underwriting poses an in-place 5.11% cap rate with a market cap rate of 5.68% on current asking rents. The average 1x1 is in-place at $1084, however most recent 1x1 have rented for $1225. The average 2x1 sits at $1280 with the most recent rent being $1395. This provides 10% rental upside on the proven most recent leasing activity. There is also the opportunity to further pursue the feasibility of adding laundry to the units. Adding laundry demonstrates possible upside of 25%-40% rental upside!
Exterior Features

Carport Spaces 0 Carport YN No Covered Spaces 0 Exterior Features Wood Open Parking Spaces 30 Open Parking YN Yes Parking Total 30 Parking Uncovered Spaces 30 Roof Composition Structure Type Multi Family Style Code 56 - 10+ Units View YN No Waterfront YN No

Interior Features

Building Area Total 20400 Fireplace YN No Flooring Vinyl PlankCarpet Furnished Unfurnished Heating Cooling Type Baseboard Heating YN Yes Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Amenities Coin Op Laundry Electric On Property YN No Energy Source Electric First Right Of Refusal No Irrigation Water Rights YN No Listing Terms Cash OutConventional Net Operating Income 307271 New Construction YN No Possession Closing Possible Use Multi-Family Power Production Type Electric Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Special Listing Conditions None Tax Annual Amount 31296 Tax Year 2020 Units In Building Total 30 Utilities Sewer ConnectedElectricity Available Zoning Class Multi-Family Zoning Jurisdiction County

Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Keller Williams Western Realty and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Keller Williams Western Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-12-02T20:14:42.177.

 
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Keller Williams Western Realty
2211 Rimland Drive, Suite 124
Bellingham WA, 98226
Listing Courtesy of Westlake Associates, Inc..