5011 157th Avenue Ct E, Sumner, WA 98390
- $2,200,000
- 6,720
- SqFt
Listing courtesy of John L. Scott, Inc. Selling Office: Multifamily Properties.
- Sold Price
- $2,200,000
- List Price
- $2,250,000
- Status
- SOLD
- MLS#
- 2146905
- Closing Date
- May 28, 2024
- Days on Market
- 303
- Style
- 55 - 5-9 Units
- Building Condition
- Very Good
- Finished SqFt
- 6,720
- Area Total SqFt
- 6720
- Annual Tax Ammount
- 10146
- Internet Provider
- Xfinity/Comcast
- Lot Size (sq ft)
- 23,958
- Sewer
- Sewer Connected
Property Description
The Salmon Creek Apartments is a fully renovated eight-unit apartment building, located in Sumner. Over the past few years current ownership has performed complete high-end interior & exterior renovation of the asset. The unit mix consists of all beautiful two bedroom/one-bath units, that are approximately 840SF. The unit features include kitchens w/stainless steel appliances, white hardwood cabinets & quartz countertops. Units also feature a balcony/patio, wood-like tile floors, new carpet in bedrooms, new lighting packages, new paint & trim packages, new 6 panel door packages, sliding barn doors for W/D (included) area & updated baths. Ext renovations included new windows, resurfacing the parking lot (17 stalls) & paint 2018.
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Additional Information
- List Date
- 2023-07-30 00:00:00
- Community
- Sumner Valley
- Net Operating Income
- $136,986
- Gross Adjusted Income
- $181,944
- Gross Scheduled Income
- $186,509
- Total Monthly Income
- $15,960
- Insurance Expenses
- $1,983
- Water/Sewer/Garbage Expenses
- $15,440
- Gross Rent Multiplier
- 12
- Total Expenses
- $49,523
- Cap Rate
- 6
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 5011
- Potential Terms
- Assumable, Cash Out, Conventional
- Year Built
- 1989
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Deck, Fenced-Partially, High Speed Internet, Patio
- Other Expenses
- 21954
- Energy Source
- Electric
- School District
- Sumner-Bonney Lake
- Total Monthly Income
- $15,960
- Gross Scheduled Income
- $186,509
- Vacancy Rate
- 5
- Gross Adjusted Income
- $181,944
- Tax Year
- 2023
- Insurance Expense
- $1,983
- W/S/G Expenses
- $15,440
- Total Expenses
- $49,523
- Net Operating Income
- $136,986
- Gross Rent Multiplier
- 12
- Cap Rate
- 6
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.