10002 158th St E, Puyallup, WA 98375

Property Description

Well-maintained FOURPLEX. A solid, turn-key investment property sitting on a 1.1 Acre Lot! Large and open 2bed/1bath 815 SF units. Coin-Op Laundry provides convenience to tenants and extra income to owner. High demand rental with long-term tenants. Rents could easily be increased as-is providing instant upside. Available individually or together with three adjacent 4-plexes (9806, 9822, & 9908); this presents an opportunity to purchase a 16-unit apartment while using attractive residential financing! 

• Gross Scheduled Income: $42,960
• Vacancy: 0
• Estimated Operating Expenses: $7,000
• Net Operating Income: $35,960
• Cap Rate: 9%
• Gross Rent Multiplier: 9.29

Offer Instructions: Out of respect for the tenants residing on the property, the seller has requested that offers be made “subject to interior inspection.” Once an offer is accepted, a viewing of the interior of the property will be arranged. An offer is merely conditional as long as “subject to interior inspection” is included in the terms. This means that the buyer may back out of the offer within an allotted time period following the interior viewing if they do not wish to proceed with the sale.

We recommend the following clause be added to an addendum:

“Offer is subject to buyer and / or buyer representative’s interior viewing. Seller shall provide access to perform a walk-through of the interior of the 4 units and the common areas within 3 days of mutual acceptance.  Buyers will have 24 hours from the walk-through to terminate the offer with earnest money being returned to the buyer. If buyer does not terminate within 24 hours, this contingency shall be deemed satisfied.”