1727 S 305th Place, Federal Way, WA 98003
- $1,600,000
- 5,276
- SqFt
Listing courtesy of Nations Realty, LLC. Selling Office: eLink Realty.
- Sold Price
- $1,600,000
- List Price
- $1,600,000
- Status
- SOLD
- MLS#
- 2286969
- Closing Date
- Oct 30, 2024
- Days on Market
- 13
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,276
- Area Total SqFt
- 5276
- Annual Tax Ammount
- 15361
- Lot Size (sq ft)
- 9,604
- Sewer
- Available
Property Description
Prime Investment Opportunity in Federal Way: Renovated 8-Unit ApartmentThis fully occupied 8-unit apartment is rare. It is located near downtown Federal Way, directly across from Federal Way High School. Each unit has been completely renovated, ensuring modern living spaces that are attractive and easy to maintain. With a strong 6.29% CAP rate, this property promises solid returns on investment. Convenience is key, with the upcoming light rail station just minutes away and within walking distance of the bus stop. Recent upgrades, including a brand-new roof in 2018 and new siding and exterior paint in 2023, mean no deferred maintenance—making it an ideal, hassle-free investment—with low vacancy rates.
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Additional Information
- List Date
- 2024-10-17 00:00:00
- Community
- Federal Way
- Net Operating Income
- $100,656
- Gross Adjusted Income
- $3,036
- Gross Scheduled Income
- $151,800
- Total Monthly Income
- $151,600
- Insurance Expenses
- $3,751
- Water/Sewer/Garbage Expenses
- $18,312
- Gross Rent Multiplier
- 10.21
- Total Expenses
- $51,148
- Cap Rate
- 6.3
- Vacancy Rate
- 2
- Total Number of Units
- 8
- Unit Name
- 1727
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1976
- Roof
- Composition
- Electric Expenses
- 1860
- Other Expenses
- 11864
- Energy Source
- Electric
- School District
- Federal Way
- Total Monthly Income
- $151,600
- Gross Scheduled Income
- $151,800
- Vacancy Rate
- 2
- Gross Adjusted Income
- $3,036
- Tax Year
- 2024
- Insurance Expense
- $3,751
- W/S/G Expenses
- $18,312
- Total Expenses
- $51,148
- Net Operating Income
- $100,656
- Gross Rent Multiplier
- 10.21
- Cap Rate
- 6.3
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.