514 8th Street NE, Auburn, WA 98002
- $1,050,000
- 5,493
- SqFt
Listing courtesy of John L. Scott, Inc. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $1,050,000
- List Price
- $1,000,000
- Status
- SOLD
- MLS#
- 2212579
- Closing Date
- May 06, 2024
- Days on Market
- 23
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,493
- Area Total SqFt
- 5493
- Annual Tax Ammount
- 14549
- Internet Provider
- Comcast/Xfinity
- Lot Size (sq ft)
- 17,018
- Sewer
- Sewer Connected
- Offer Review Date
- 2024-04-04
Property Description
Penny Lane Apartments offered for the first time since its construction. Located in DT Auburn, well-maintained & consists of two 2-story buildings. One being a duplex & another a triplex; consisting of three 2BD/1BTH units & two 2BD/1.5BTH townhomes ranging between 915-1240SF. Units feature all kitchen applncs, baseboard heating, patio/balconies, vinyl & carpet flooring, washer/dryer hook ups, attached garages along with some having additional off street parking. Both buildings are comprised of asphalt shingle roofs which were replaced in 2007, aluminum siding & vinyl windows. A new owner will benefit from the multitude of options in increasing the income at Penny Lane based off their operational strategy. Don't miss this great opportunity!
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Additional Information
- List Date
- 2024-04-13 00:00:00
- Community
- Auburn
- Net Operating Income
- $37,773
- Gross Adjusted Income
- $76,619
- Gross Scheduled Income
- $80,652
- Total Monthly Income
- $6,721
- Insurance Expenses
- $2,452
- Water/Sewer/Garbage Expenses
- $8,743
- Gross Rent Multiplier
- 12.4
- Total Expenses
- $37,790
- Cap Rate
- 3.7800000000000002
- Vacancy Rate
- 5
- Total Number of Units
- 5
- Unit Name
- 514
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1989
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, High Speed Internet, Patio
- Other Expenses
- 12046
- Energy Source
- Electric
- School District
- Auburn
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $6,721
- Gross Scheduled Income
- $80,652
- Vacancy Rate
- 5
- Gross Adjusted Income
- $76,619
- Tax Year
- 2023
- Insurance Expense
- $2,452
- W/S/G Expenses
- $8,743
- Total Expenses
- $37,790
- Net Operating Income
- $37,773
- Gross Rent Multiplier
- 12.4
- Cap Rate
- 3.7800000000000002
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.