3403 N 26th Street, Tacoma, WA 98403
- $825,000
- 2,200
- SqFt
Listing courtesy of Blake Investment Advisors. Selling Office: Skyline Properties, Inc..
- Sold Price
- $825,000
- List Price
- $825,000
- Status
- SOLD
- MLS#
- 2256139
- Closing Date
- Sep 23, 2024
- Days on Market
- 32
- Style
- 55 - 5-9 Units
- Building Condition
- Very Good
- Finished SqFt
- 2,200
- Area Total SqFt
- 2200
- Annual Tax Ammount
- 8727
- Lot Size (sq ft)
- 4,900
- Sewer
- Available
Property Description
This unique opportunity allows a new investor to acquire an irreplaceable and charming 5-unit asset in North Tacoma's desirable Proctor District, with the advantage of seller secondary financing at two percent interest-only payments for qualified buyers. Currently, the average rent at Proctor Manor is $757 per unit. With market comparables supporting an average rent of $1,372 per unit, a new investor can capture over 81% rental upside during the proposed three-year holding period. Tenants are not being billed back for water, sewer, and garbage. A new owner can capture additional income by implementing a ratio utility billing system (RUBS) for water, sewer, and garbage.
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Additional Information
- List Date
- 2024-08-22 00:00:00
- Community
- Proctor
- Net Operating Income
- $58,676
- Gross Adjusted Income
- $91,104
- Gross Scheduled Income
- $83,320
- Total Monthly Income
- $7,235
- Insurance Expenses
- $7,306
- Water/Sewer/Garbage Expenses
- $6,820
- Gross Rent Multiplier
- 9.9
- Total Expenses
- $32,428
- Cap Rate
- 7.11
- Vacancy Rate
- 5
- Total Number of Units
- 5
- Unit Name
- 3403
- Potential Terms
- Cash Out
- Year Built
- 1910
- Roof
- Composition
- Other Expenses
- 9575
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $7,235
- Gross Scheduled Income
- $83,320
- Vacancy Rate
- 5
- Gross Adjusted Income
- $91,104
- Tax Year
- 2024
- Insurance Expense
- $7,306
- W/S/G Expenses
- $6,820
- Total Expenses
- $32,428
- Net Operating Income
- $58,676
- Gross Rent Multiplier
- 9.9
- Cap Rate
- 7.11
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.