21914 29th Avenue S, Des Moines, WA 98198
- $871,500
- 2,600
- SqFt
Listing courtesy of AgencyOne. Selling Office: eXp Realty.
- Sold Price
- $871,500
- List Price
- $895,000
- Status
- SOLD
- MLS#
- 2130903
- Closing Date
- Nov 30, 2023
- Days on Market
- 114
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 2,600
- Area Total SqFt
- 2600
- Annual Tax Ammount
- 7799
- Lot Size (sq ft)
- 7,540
- Sewer
- Sewer Connected
Property Description
Wonderful 4plex in a convenient location with an outstanding mix of 2 2-bed/1 bath units and 2 1-bed/1 bath units. This building is well-maintained with consistent updates. Market rents push $1,700 for the 2-bed and $1,525 for the 1-bed units ($6,500 a month)! Coin-op laundry for added income. Rents are below market due to long-term tenants giving this value add potential by raising rents, instituting RUBS, and continuing to improve the units. Close to the upcoming Des Moines light rail expansion stop. Development is happening quickly and will rapidly increase property values and rents! NEW TPO ROOF as of September 2023!
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Additional Information
- List Date
- 2023-08-08 00:00:00
- Community
- Des Moines
- Net Operating Income
- $55,646
- Gross Adjusted Income
- $64,740
- Gross Scheduled Income
- $5,295
- Total Monthly Income
- $5,395
- Insurance Expenses
- $1,200
- Gross Rent Multiplier
- 182
- Total Expenses
- $8,999
- Cap Rate
- 5.8
- Vacancy Rate
- 2
- Total Number of Units
- 4
- Unit Name
- 21914
- Potential Terms
- Conventional, FHA, VA Loan
- Year Built
- 1967
- View
- Territorial
- Roof
- Flat
- Site Features
- Deck, Fenced-Partially, High Speed Internet
- Energy Source
- Electric
- School District
- Highline
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $5,395
- Gross Scheduled Income
- $5,295
- Vacancy Rate
- 2
- Gross Adjusted Income
- $64,740
- Tax Year
- 2023
- Insurance Expense
- $1,200
- Total Expenses
- $8,999
- Net Operating Income
- $55,646
- Gross Rent Multiplier
- 182
- Cap Rate
- 5.8
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.