100 N 8th Avenue SW, Tumwater, WA 98512

$1,500,000
11,559
SqFt

Listing courtesy of Greene Realty Group LLC. Selling Office: John L. Scott Lacey.

Sold Price
$1,500,000
List Price
$1,500,000
Status
SOLD
MLS#
1622751
Closing Date
Sep 11, 2020
Days on Market
6
Style
56 - 10+ Units
Building Condition
Good
Finished SqFt
11,559
Area Total SqFt
11559
Annual Tax Ammount
10484
Lot Size (sq ft)
12,916
Sewer
Sewer Connected

Property Description

Great investment opportunity on coveted Tumwater Hill! With close proximity to the freeway, state offices, schools, shopping & restaurants, this well-maintained building rarely experiences vacancies. Featuring two 2-BR, 1-BA & eight 1-BR, 1-BA units w/ private decks, covered parking & storage units on the parking level. New roof, w/ added pitch, & gutters in 2010 & new sewer line in 2019. Don’t purchase based on proforma! Current CAP rate is above 5%!

Additional Information

List Date
2020-09-05 00:00:00
Community
Tumwater Hill
Net Operating Income
$81,834
Gross Adjusted Income
$115,836
Gross Scheduled Income
$118,200
Total Monthly Income
$10,000
Insurance Expenses
$4,848
Water/Sewer/Garbage Expenses
$8,085
Gross Rent Multiplier
13
Total Expenses
$34,002
Cap Rate
5.5
Vacancy Rate
2
Total Number of Units
10
Unit Name
100
Potential Terms
Cash Out, Conventional
Year Built
1968
View
Territorial
Roof
Flat
Site Features
Cable TV, Deck, High Speed Internet
Electric Expenses
1158
Other Expenses
9456
School District
Tumwater
Total Monthly Income
$10,000
Gross Scheduled Income
$118,200
Vacancy Rate
2
Gross Adjusted Income
$115,836
Tax Year
2020
Insurance Expense
$4,848
W/S/G Expenses
$8,085
Total Expenses
$34,002
Net Operating Income
$81,834
Gross Rent Multiplier
13
Cap Rate
5.5
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