214 N lyle Street, Roy, WA 98580
- $450,000
- 4,970
- SqFt
Listing courtesy of Best Choice Realty LLC. Selling Office: Best Choice Network LLC.
- Sold Price
- $450,000
- List Price
- $475,000
- Status
- SOLD
- MLS#
- 2321420
- Closing Date
- Feb 25, 2025
- Days on Market
- 15
- Style
- 54 - 4-Plex
- Building Condition
- Under Construction
- Finished SqFt
- 4,970
- Area Total SqFt
- 4970
- Annual Tax Ammount
- 7500
- Lot Size (sq ft)
- 57,600
- Sewer
- Septic Tank
- Short Sale
- Yes
Property Description
Great investment opportunity. High rental demand due to proximity to JBLM! Plenty of parking, large spacious 1.3 ac lot, building on the hill under remodeling with plans for 4 units, 10 beds and 5.5 baths and access from both street. Buyer will need to have the permit reinstated with the city that is eager to see this remodeling completed. A new 10-bedroom septic is needed. See unit descriptions for details. Financial are pro-format estimated expenses and Pierce County Housing Authority rents approved for units of this size. Sold AS-IS. Short Sale, needs lender approval. Remodeling status is Rough framing of new floorplan complete, plumbing and electrical started. Floorplan is in the construction permit in the supplements.
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Additional Information
- List Date
- 2025-02-10 00:00:00
- Community
- Roy
- Net Operating Income
- $95,731
- Gross Adjusted Income
- $115,231
- Gross Scheduled Income
- $121,296
- Total Monthly Income
- $10,108
- Insurance Expenses
- $5,000
- Water/Sewer/Garbage Expenses
- $1,500
- Gross Rent Multiplier
- 6.94
- Total Expenses
- $19,500
- Cap Rate
- 11.9
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 214
- Potential Terms
- Cash Out, Rehab Loan
- Year Built
- 1930
- View
- Territorial
- Roof
- Composition
- Site Features
- Deck, Outbuildings, RV Parking
- Electric Expenses
- 500
- Other Expenses
- 5000
- Energy Source
- Electric
- School District
- Bethel
- Elementary School
- Roy Elem
- Middle School
- Cougar Mountain JH
- High School
- Bethel High
- Total Monthly Income
- $10,108
- Gross Scheduled Income
- $121,296
- Vacancy Rate
- 5
- Gross Adjusted Income
- $115,231
- Tax Year
- 2024
- Insurance Expense
- $5,000
- W/S/G Expenses
- $1,500
- Total Expenses
- $19,500
- Net Operating Income
- $95,731
- Gross Rent Multiplier
- 6.94
- Cap Rate
- 11.9
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.