214 Mashell Avenue S, Eatonville, WA 98328
- $1,415,000
- 7,978
- SqFt
Listing courtesy of Windermere Professional Prtnrs. Selling Office: Skyline Properties, Inc..
- Sold Price
- $1,415,000
- List Price
- $1,500,000
- Status
- SOLD
- MLS#
- 2208004
- Closing Date
- Jun 14, 2024
- Days on Market
- 49
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Finished SqFt
- 7,978
- Area Total SqFt
- 7978
- Annual Tax Ammount
- 12304
- Lot Size (sq ft)
- 35,100
- Sewer
- Sewer Connected
Property Description
This 10-Plex in Eatonville is a value-add opportunity comprised of nine (9) 2-Bdrm Units, one (1) 1-Bdrm Unit, & coin-operated laundry. Currently under-performing w/ a 5.87 cap rate, but will produce a 9.64 cap rate once rented at market rates. Complex has undergone some recent updates: all new windows in 2019 + full & partial unit remodels. Upper units each offer balcony overlooking Mt Rainier & can be accessed via living rm & bdrm. Large parking lot & two (2) other parking areas + on-street parking options. The 2-bdrm units are identical in layout: living/dining/kitchen combo w/ full bath between bdrms. Centrally located w/in the downtown corridor of Eatonville offering proximity to grocery, restaurants & parks. Owner financing considered
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Additional Information
- List Date
- 2024-04-26 00:00:00
- Community
- Eatonville
- Net Operating Income
- $144,630
- Gross Adjusted Income
- $169,792
- Gross Scheduled Income
- $178,728
- Total Monthly Income
- $14,894
- Insurance Expenses
- $9,532
- Water/Sewer/Garbage Expenses
- $10,348
- Gross Rent Multiplier
- 8.39
- Total Expenses
- $34,097
- Cap Rate
- 9.64
- Vacancy Rate
- 5
- Total Number of Units
- 10
- Unit Name
- 214
- Potential Terms
- Cash Out, Conventional, Owner Financing
- Year Built
- 1982
- View
- City, Mountain(s), Territorial
- Roof
- Composition
- Site Features
- Deck
- Electric Expenses
- 653
- Other Expenses
- 1260
- Energy Source
- Electric
- School District
- Eatonville
- Elementary School
- Eatonville Elem
- Middle School
- Eatonville Mid
- High School
- Eatonville High
- Total Monthly Income
- $14,894
- Gross Scheduled Income
- $178,728
- Vacancy Rate
- 5
- Gross Adjusted Income
- $169,792
- Tax Year
- 2023
- Insurance Expense
- $9,532
- W/S/G Expenses
- $10,348
- Total Expenses
- $34,097
- Net Operating Income
- $144,630
- Gross Rent Multiplier
- 8.39
- Cap Rate
- 9.64
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.