511 N C Street, Tacoma, WA 98403

$2,200,000
8,228
SqFt

Listing courtesy of Acquisition Real Estate. Selling Office: ZNonMember-Office-MLS.

Sold Price
$2,200,000
List Price
$2,275,000
Status
SOLD
MLS#
1758588
Closing Date
Oct 19, 2021
Days on Market
22
Style
55 - 5-9 Units
Building Condition
Restored
Finished SqFt
8,228
Area Total SqFt
8228
Annual Tax Ammount
17900
Lot Size (sq ft)
13,365
Sewer
Sewer Connected

Property Description

INCOME GENERATING OPPORTUNITY! Spectacular location! Stunning 9 unit apartment complex with unobstructed views of Puget Sound, Mount Rainer, Vashon Island, Ruston Point and Port of Tacoma! Large parcel w/onsite parking, courtyard & garage. New Milgard dual pane windows, new exterior doors, new awnings, new exterior paint, new tankless water & radiant heaters. Both the Building & exterior grounds are well maintained with exterior lighting, security cameras & professional landscaping This asset offers rental diversity with 1 studio unit, three 2 bedroom units, four 1 bedroom units and one 3 bedroom unit (owner's unit w/Stadium Way address). Stabilized tenancy & separate electrical meters for each unit. Live on site potential or rent all.

Additional Information

List Date
2021-09-27 00:00:00
Community
Stadium District
Net Operating Income
$112,738
Gross Adjusted Income
$165,300
Gross Scheduled Income
$174,000
Total Monthly Income
$14,500
Insurance Expenses
$5,950
Water/Sewer/Garbage Expenses
$11,800
Gross Rent Multiplier
13
Total Expenses
$52,562
Cap Rate
4.96
Vacancy Rate
5
Total Number of Units
9
Unit Name
511
Potential Terms
Cash Out, Conventional
Year Built
1894
View
Sound
Roof
Torch Down
Site Features
Cable TV
Electric Expenses
2700
Other Expenses
14212
Energy Source
Electric, Natural Gas
School District
Tacoma
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$14,500
Gross Scheduled Income
$174,000
Vacancy Rate
5
Gross Adjusted Income
$165,300
Tax Year
2020
Insurance Expense
$5,950
W/S/G Expenses
$11,800
Total Expenses
$52,562
Net Operating Income
$112,738
Gross Rent Multiplier
13
Cap Rate
4.96
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