506 -508 Cherry Avenue, Sumner, WA 98390
- $1,400,000
- 6,347
- SqFt
Listing courtesy of Terrafin. Selling Office: Skyline Properties, Inc..
- Sold Price
- $1,400,000
- List Price
- $1,550,000
- Status
- SOLD
- MLS#
- 2318458
- Closing Date
- Aug 01, 2025
- Days on Market
- 175
- Style
- 55 - 5-9 Units
- Finished SqFt
- 6,347
- Area Total SqFt
- 6347
- Annual Tax Ammount
- 18410.12
- Lot Size (sq ft)
- 28,575
- Sewer
- Sewer Connected
Property Description
An irreplaceable piece of real estate in the heart of downtown Sumner. Simultaneous sale of a single story solid brick 4-plex & 2 story duplex ideal to all renters. These well-maintained adjacent buildings offer sharing access, a generous parking area, carports w/storage lockers plus more off street parking. Community laundry room serves all. 3 Units are 2 Bd/1Bath and 1 unit is 3 Bd/1.5 Bath. Slider to outside covered patio. Duplex has main floor 1 bed/1 bath + upstairs 3 bed/1.75 bath unit has own laundry & spacious deck with Mt. Rainier views! Large 2+car garage. Prime location close to shopping, dining, Sounder station & Loyalty Park. Zoning is High Density Residential (HDR) with a maximum density of 25 dwelling units per acre.
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Additional Information
- List Date
- 2025-02-07 00:00:00
- Community
- Downtown Sumner
- Net Operating Income
- $77,769
- Gross Adjusted Income
- $114,600
- Gross Scheduled Income
- $114,600
- Total Monthly Income
- $9,550
- Insurance Expenses
- $3,549
- Water/Sewer/Garbage Expenses
- $8,893
- Gross Rent Multiplier
- 13.52
- Total Expenses
- $36,830
- Cap Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 506 -508
- Potential Terms
- Cash Out, Conventional, Owner Financing
- Year Built
- 1968
- View
- Mountain(s), Partial
- Roof
- Composition
- Site Features
- Cable TV, High Speed Internet, RV Parking
- Electric Expenses
- 1478
- Other Expenses
- 4500
- Energy Source
- Electric
- School District
- Sumner-Bonney Lake
- Elementary School
- Buyer To Verify
- Middle School
- Sumner Middle
- High School
- Sumner Snr High
- Total Monthly Income
- $9,550
- Gross Scheduled Income
- $114,600
- Gross Adjusted Income
- $114,600
- Tax Year
- 2024
- Insurance Expense
- $3,549
- W/S/G Expenses
- $8,893
- Total Expenses
- $36,830
- Net Operating Income
- $77,769
- Gross Rent Multiplier
- 13.52
- Cap Rate
- 5
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.