1721 16th Road, Sumner, WA 98390
- $1,975,000
Listing courtesy of Kidder Mathews. Selling Office: Kidder Mathews.
- Sold Price
- $1,975,000
- List Price
- $2,200,000
- Status
- SOLD
- MLS#
- 2160465
- Closing Date
- Jan 19, 2024
- Days on Market
- 9
- Style
- 56 - 10+ Units
- Annual Tax Ammount
- 12129
- Lot Size (sq ft)
- 19,200
- Sewer
- Sewer Connected
Property Description
Built in 1967, this two story 12-unit community is comprised of spacious one-, two- and three-bedroom units averaging 714 SF. The Daffodil Apartments holds two 6-plex buildings, ample paved surface parking, and a large community backyard. Ripe for remodel, Daffodil Apartments hold 12 classically finished interiors providing investors an opportunity to seek value through interior improvements. Professionally managed and meticulously maintained, this value-add offering is extremely well positioned to provide new ownership immediate returns along with tremendous market growth potential.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- List Date
- 2024-01-10 00:00:00
- Community
- Sumner
- Net Operating Income
- $115,110
- Gross Adjusted Income
- $188,388
- Gross Scheduled Income
- $198,303
- Total Monthly Income
- $16,525
- Insurance Expenses
- $3,600
- Water/Sewer/Garbage Expenses
- $22,293
- Gross Rent Multiplier
- 11
- Total Expenses
- $73,278
- Cap Rate
- 5.23
- Vacancy Rate
- 9915
- Total Number of Units
- 12
- Unit Name
- 1721
- Potential Terms
- Conventional
- Year Built
- 1967
- Roof
- Flat
- Other Expenses
- 35256
- Energy Source
- Electric
- School District
- Sumner-Bonney Lake
- Total Monthly Income
- $16,525
- Gross Scheduled Income
- $198,303
- Vacancy Rate
- 9915
- Gross Adjusted Income
- $188,388
- Tax Year
- 2023
- Insurance Expense
- $3,600
- W/S/G Expenses
- $22,293
- Total Expenses
- $73,278
- Net Operating Income
- $115,110
- Gross Rent Multiplier
- 11
- Cap Rate
- 5.23
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.