9002 154th Avenue Ct NW, Lakebay, WA 98349
- $1,765,600
Listing courtesy of Commencement Bay Brokers LLC. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $1,765,600
- List Price
- $1,900,000
- Status
- SOLD
- MLS#
- 2371589
- Closing Date
- Jul 18, 2025
- Days on Market
- 28
- Style
- 56 - 10+ Units
- Annual Tax Ammount
- 16549
- Lot Size (sq ft)
- 100,188
- Sewer
- Septic Tank
Property Description
Incredible opportunity to purchase the Kayla Rae! This well maintained two building, 13 unit apartment complex, is in fantastic condition. Units are clean with newer carpets, paint, and vinyl windows. Great tenants and always rented; all 13 apartments are currently occupied. Rent is currently less than market value and stable cap rate is approximately 5.4%. Apartments are all metered separately and there is a potential for more density. Coin operated laundry on-site. Pre-inspection conducted and report available upon request. Located in the heart of Key Center and close to shopping, retail, and restaurants. Wonderful addition to anyone's investment portfolio and/or real estate holdings!
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Additional Information
- List Date
- 2025-06-20 00:00:00
- Community
- Lakebay
- Net Operating Income
- $103,261
- Gross Adjusted Income
- $162,331
- Gross Scheduled Income
- $167,331
- Total Monthly Income
- $13,944
- Insurance Expenses
- $12,145
- Water/Sewer/Garbage Expenses
- $3,055
- Gross Rent Multiplier
- 11.35
- Total Expenses
- $59,069
- Cap Rate
- 5.4
- Vacancy Rate
- 3
- Total Number of Units
- 13
- Unit Name
- 9002
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1993
- Roof
- Composition
- Site Features
- Deck, Patio
- Other Expenses
- 27320
- Energy Source
- Electric
- School District
- Peninsula
- Elementary School
- Vaughn Elem
- Middle School
- Key Peninsula Mid
- High School
- Peninsula High
- Total Monthly Income
- $13,944
- Gross Scheduled Income
- $167,331
- Vacancy Rate
- 3
- Gross Adjusted Income
- $162,331
- Tax Year
- 2024
- Insurance Expense
- $12,145
- W/S/G Expenses
- $3,055
- Total Expenses
- $59,069
- Net Operating Income
- $103,261
- Gross Rent Multiplier
- 11.35
- Cap Rate
- 5.4
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.