FOURPLEX-9.5% Cap Rate. There is room to increase rents & raise the Cap Rate to 10%! Well maintained; A solid, turn-key investment property located in a quiet and wooded cul-de-sac neighborhood adjacent to Swan Creek Park. Originally built in 1986; units are all 2 bed/1 bath, 750SF with updated interiors; upper balconies / lower patios; energy efficient double-pane windows. Plenty of off-street parking. Coin-op laundry in common area provides additional income. Sits on a nearly ¼ of an acre lot.
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4-PLEX | 9% Cap Rate! Huge 3 bed/ 2 bath units with garage spaces. Very Well Maintained; Solid Turn-Key Investment Property generating MASSIVE CASH FLOW. Currently receives $5575/mo. Income ($66,900/annual). Lots of updates: newer energy efficient double-pane windows., garage doors, interiors, etc. Onsite coin-op laundry. Available amenities and convenient location make this a high-demand rental. Unit B just got vacant; ok for viewing and will soon be cleaned up.
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Two Townhomes sold together as a DUPLEX. Fully Occupied / 8.6% Cap Rate! Excellent investment property with lots of options. Each unit is 2 bed/1.5 bath with remodeled interiors, attached garages and individual fenced backyards. Parcel IDs: #9005730010 and #9005730020. Steps to South Hill Park & Ride; very short drive (less than a mile) to South Hill Mall; quick access to 512. Cash Sale Only
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Two Building 5-Plex (Duplex & Triplex) | 7% True Cap Rate. Exteriors/Interiors Completely Remodeled within the last few years. Charming community property with shared courtyard/BBQ deck for all to enjoy, 2 different water features & 3 additional patios/sitting areas. Storage area in the basement and a coin-op laundry area; attached 2 car garage. Rents range from $850-$1325. Great rental history w/low vacancy; tenants love it here! Completely turn-key with professional management in place.
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Legal Duplex located in the heart of desirable Greenwood neighborhood. Lower unit is 2bd/1bth appx 1060SF w/ open floor plan & bonus areas. Upper unit is 2bd/1bth appx 770SF and has recently undergone a complete remodel. Basement area offers addl storage. Lots of upgrades & systems replaced. Fully fenced backyard & alley access. Walking distance to groceries, shops, restaurants, & bus lines. Purchase as a solid 6% CAP investment property or live in one unit while earning income from the other.
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FOURPLEX | 8% Cap Rate! Well maintained; A solid, turn-key investment property located in a quiet and wooded cul-de-sac neighborhood adjacent to Swan Creek Park. Originally built in 1986; units are all 2 bed/1 bath, 750SF with updated interiors; upper balconies / lower patios; energy efficient double-pane windows. Plenty of off-street parking. Coin-op laundry in common area provides additional income. Current rents are below market: upside potential. Building sits on a nearly ¼ of an acre lot.
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Here are slides from their presentation to the Rental Housing Association on March 23rd: Is the apartment market going bananas? The presentation consists of four stories (development, rents, investment, and the future) to give you a better understanding of critical apartment market trends in the Puget Sound region.
We just finished our annual study of line-item operating expenses for our Apartment Expense Report. As important as we believe this research is, we have to admit that we cringe every February when we're faced with a stack of year-end statements waiting to be analyzed one line at a time. This year we worked our way through what seemed to be a three or four foot stack of statements for 1,073 properties with 121,764 units in the Puget Sound region. Here are some of the results that investors should pay attention to.
Median Sale Price (PER UNIT) Multifamily Seattle-Tacoma-Bellevue:
Clean and Completely Remodeled FOUR-PLEX. New roof, siding, interior and exterior paint, flooring, electrical, plumbing, kitchens, baths, windows, appliances, water heaters, and skylights. Conveniently located just blocks from Kent Station and minutes from Hwy 167. Fully occupied with great tenants. Coin op washer and (non-coin op) dryer are on site, as well as a private W/D in Unit #2. Here is your opportunity to purchase a solid, turn-key investment with a 7.75% Cap. Rate...instant cash-flow!
Clean and well-maintained DUPLEX situated on a corner lot in a quiet neighborhood. Each unit is 900 square feet, 2 bed/ 1 bath with individual garages and back yards. This makes a solid, turn-key investment property or great for owner-occupant + extra income. Currently fully occupied with long-term tenants. Centrally located to UW Tacoma, shopping, dining, hospitals, and downtown.
