505 N L Street, Tacoma, WA 98403

$1,385,000
5,100
SqFt

Listing courtesy of Windermere Professional Prtnrs.

List Price
$1,385,000
Status
PENDING INSPECTION
MLS#
1852817
Days on Market
45
Style
54 - 4-Plex
Building Condition
Good
Finished SqFt
5,100
Area Total SqFt
5100
Lot Size (sq ft)
6,500

Property Description

A rare opportunity to invest in a North Tacoma fourplex. Tons of original charm. Great curb appeal. Main floor is a large 2 bedroom unit with wood floors and gorgeous built ins. Floor two has a 2 bed unit plus a Studio apartment, both completely updated. Fresh paint, gleaming floors and amazing kitchens. The Basement has a common area for laundry and storage plus a beautiful 1 bed apartment. Even the two car garage has rental potential to hospital employees, current tenants or local residents. Currently garage is used for owner's personal storage. Fenced backyard has an entertaining patio and gardens. Overall, 6 off-street parking spaces, new exterior paint & roof. Potential of an easy 5+ cap rate. Easy access to Light Rail & Multicare.

Additional Information

List Date
2021-10-13 18:31:10
Community
North Tacoma
Potential Terms
Cash Out, Conventional
Year Built
1922
Roof
Composition
Site Features
Cable TV, Fenced-Fully, Gas Available, High Speed Internet, Patio
Heating/Cooling Type
Forced Air, Wall
Other Expenses
9153
Energy Source
Electric, Natural Gas
School District
Tacoma
Total Monthly Income
$6,412
Gross Scheduled Income
$76,950
Gross Adjusted Income
$76,950
Tax Year
2021
Insurance Expense
$1,927
Total Expenses
$18,575
Net Operating Income
$58,375
Gross Rent Multiplier
18
Cap Rate
4
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