224 116th Street S, Tacoma, WA 98444
- $425,000
- 2,098
- SqFt
Listing courtesy of Suburban Realty, Inc.. Selling Office: eXp Realty.
- Sold Price
- $425,000
- List Price
- $475,000
- Status
- SOLD
- MLS#
- 2466595
- Closing Date
- Apr 24, 2026
- Days on Market
- 45
- Style
- 53 - Tri-plex
- Building Condition
- Fair
- Finished SqFt
- 2,098
- Area Total SqFt
- 2098
- Annual Tax Ammount
- 6500
- Lot Size (sq ft)
- 14,000
- Sewer
- Sewer Connected
- Offer Review Date
- 2026-01-19
Property Description
One of a kind triplex opportunity in Parkland! Single family home and Duplex on one lot. First time on the market in DECADES! 2 vacant units, please do not disturb tenant in 218 unit. Oversize lot with ADU possiblity! Underlying lots could possibly be segregated, buyer to verify. 2 units are more recently updated, newer roof on both structures and exterior paint on 224 unit. Duplex units are 2 bed one bath units with one car garage and a shared laundry room. House is one bed 3/4 bath unit with one car garage. Fenced backyards. Property sold in as-is condition only. Make this property shine again!
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Additional Information
- List Date
- 2026-03-10 00:00:00
- Community
- Parkland
- Net Operating Income
- $42,920
- Gross Adjusted Income
- $42,920
- Gross Scheduled Income
- $52,440
- Total Monthly Income
- $4,370
- Insurance Expenses
- $1,520
- Water/Sewer/Garbage Expenses
- $1,500
- Gross Rent Multiplier
- 11.53
- Total Expenses
- $9,520
- Cap Rate
- 8.7
- Vacancy Rate
- 5
- Total Number of Units
- 3
- Unit Name
- 224
- Potential Terms
- Conventional, Farm Home Loan, Rehab Loan
- Year Built
- 1941
- View
- Ocean, Territorial
- Roof
- Composition
- Site Features
- Fenced-Partially, Outbuildings, Patio
- Energy Source
- Electric
- School District
- Franklin Pierce
- Elementary School
- James Sales Elem
- Middle School
- Morris Ford Mid
- High School
- Wash High
- Total Monthly Income
- $4,370
- Gross Scheduled Income
- $52,440
- Vacancy Rate
- 5
- Gross Adjusted Income
- $42,920
- Tax Year
- 2025
- Insurance Expense
- $1,520
- W/S/G Expenses
- $1,500
- Total Expenses
- $9,520
- Net Operating Income
- $42,920
- Gross Rent Multiplier
- 11.53
- Cap Rate
- 8.7
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.