6124 88th Street SW, Lakewood, WA 98499
- $1,500,000
- 5,250
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $1,500,000
- List Price
- $1,550,000
- Status
- SOLD
- MLS#
- 2257976
- Closing Date
- Oct 28, 2024
- Days on Market
- 54
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,250
- Area Total SqFt
- 5250
- Annual Tax Ammount
- 12727
- Lot Size (sq ft)
- 12,502
- Sewer
- Sewer Connected
Property Description
Westland Apartments are strategically located just four blocks away from Pierce County Transit. The property has been significantly upgraded to leverage its excellent location and future growth potential. Comprehensive exterior renovations were completed in 2020. Eight of the eight units have been remodeled with new appliances, flooring, cabinets, countertops, fixtures, roofing, and water heaters. Enjoy easy access to I-5 and State Route 512 interchange. Within a 15-minute drive to key locations such as JBLM, the Washington National Guard State Headquarters at Camp Murray, and Madigan Army Hospital.
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Additional Information
- List Date
- 2024-09-04 00:00:00
- Community
- Lakewood
- Net Operating Income
- $78,683
- Gross Adjusted Income
- $132,384
- Gross Scheduled Income
- $138,720
- Total Monthly Income
- $11,560
- Insurance Expenses
- $2,931
- Water/Sewer/Garbage Expenses
- $10,423
- Gross Rent Multiplier
- 12.23
- Total Expenses
- $53,700
- Cap Rate
- 5.08
- Vacancy Rate
- 6336
- Total Number of Units
- 8
- Unit Name
- 6124
- Potential Terms
- Assumable, Cash Out, Conventional
- Year Built
- 1957
- Roof
- Composition
- Other Expenses
- 27619
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $11,560
- Gross Scheduled Income
- $138,720
- Vacancy Rate
- 6336
- Gross Adjusted Income
- $132,384
- Tax Year
- 2024
- Insurance Expense
- $2,931
- W/S/G Expenses
- $10,423
- Total Expenses
- $53,700
- Net Operating Income
- $78,683
- Gross Rent Multiplier
- 12.23
- Cap Rate
- 5.08
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.