6807 6809 Lakewood DR SW, University Place, WA 98467
- $1,900,000
- 6,720
- SqFt
Listing courtesy of Better Properties Real Estate. Selling Office: Skyline Properties, Inc..
- Sold Price
- $1,900,000
- List Price
- $1,950,000
- Status
- SOLD
- MLS#
- 2327843
- Closing Date
- Mar 28, 2025
- Days on Market
- 40
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Finished SqFt
- 6,720
- Area Total SqFt
- 6720
- Annual Tax Ammount
- 11879
- Lot Size (sq ft)
- 43,216
- Sewer
- Septic Tank
Property Description
Upgraded a few years ago, the Meadow Park Court apartments are a 12-unit offering sitting on Lakewood Dr and across from the Meadow Park Golf Course. Resting on an approximate acre of centrally located real estate, Meadow Park Court is comprised of efficiently laid out 1-bedroom 1-bath units, holding modernized interior finishes. Inside you’ll find hard surface countertops, stainless steel appliance package, newer cabinets, newer LVP flooring, and updated bathroom and kitchen fixtures. In addition to interior improvements, current ownership has upgraded plumbing, electrical, roof, siding, and landscaping. Buyer to verify all information, including school district. 11 units are below market rent. All month to month tenants. Truly a gem!
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Additional Information
- List Date
- 2025-02-16 00:00:00
- Community
- University Place
- Net Operating Income
- $136,635
- Gross Adjusted Income
- $179,925
- Gross Scheduled Income
- $181,065
- Total Monthly Income
- $15,445
- Insurance Expenses
- $8,933
- Water/Sewer/Garbage Expenses
- $5,993
- Total Expenses
- $43,230
- Cap Rate
- 7
- Total Number of Units
- 12
- Unit Name
- 6807 6809
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1957
- Roof
- Flat
- Other Expenses
- 16425
- Energy Source
- Electric
- School District
- Tacoma
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $15,445
- Gross Scheduled Income
- $181,065
- Gross Adjusted Income
- $179,925
- Tax Year
- 2024
- Insurance Expense
- $8,933
- W/S/G Expenses
- $5,993
- Total Expenses
- $43,230
- Net Operating Income
- $136,635
- Cap Rate
- 7
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.