28426 16th Ave S Unit 1-6, Federal Way, WA 98003

$1,800,000
7,776
SqFt

Listing courtesy of The Preview Group.

List Price
$1,800,000
Status
PENDING FEASABILITY
MLS#
1752961
Days on Market
9
Style
55 - 5-9 Units
Building Condition
['Very Good']
Finished SqFt
7,776
Lot Size (sq ft)
14,736

Property Description

Cap is 5.14%.Pro Forma = 6% Exceptional Opportunity! 6-unit deluxe condo building. All units = 1224 SF 2 Bed 1.5 Bth, fireplace. This is a unique opportunity to own the building, rent out or sell units individually. The HOA is already set up, the 6 tax parcels split, and all the work is done. This exceptional building above Redondo with Puget Sound views from upper floors. Completely remodeled with customized cabinets, all stainless-steel appliances, slab granite counters and cherry hardwood floors, travertine, natural stone tile and cushy carpet in the bedrooms. Main bath is over-sized with a deep soaking tub. This is basically a turnkey building of condominiums at a volume discount price! DON’T BOTHER OCCUPANTS. Sq Ftg per old appraisal.

Additional Information

List Date
2021-04-07 00:00:00
Community
Redondo
Property Type
MULT
Units
6
Stories
3
Potential Terms
Cash Out, Conventional
Year Built
1978
Total Parking
12
Uncovered Parking
6
View
['Mountain', 'Sound', 'Strait', 'Territorial']
Exterior
Wood Products
Roof
Composition
Site Features
Deck, High Speed Internet
Lot Details
Dead End Street, Paved Street
School District
Federal Way
Total Monthly Income
$9,800
Gross Scheduled Income
$117,600
Vacancy Rate
5
Gross Adjusted Income
$111,720
Annual Taxes
$10,560
Tax Year
2019
Insurance Expense
$1,647
W/S/G Expenses
$4,058
Total Expenses
$16,528
Net Operating Income
$95,192
Gross Rent Multiplier
15
Cap Rate
5

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.50
Unit 1 Size
1224
Unit 1 Rent
$1,550
Unit 2 Beds
2
Unit 2 Baths
1.50
Unit 2 Size
1224
Unit 2 Rent
$1,550
Unit 3 Beds
2
Unit 3 Baths
1.50
Unit 3 Size
1224
Unit 3 Rent
$1,750
Unit 4 Beds
2
Unit 4 Baths
1.50
Unit 4 Size
1224
Unit 4 Rent
$1,450
Unit 5 Beds
2
Unit 5 Baths
1.50
Unit 5 Size
1224
Unit 5 Rent
$1,750
Unit 6 Beds
2
Unit 6 Baths
1.50
Unit 6 Size
1224
Unit 6 Rent
$1,750
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