116 & 118 173rd Street E, Spanaway, WA 98387
- $714,950
- 2,782
- SqFt
Listing courtesy of John L. Scott, Inc.. Selling Office: Parkside Realty, LLC.
- Sold Price
- $714,950
- List Price
- $719,950
- Status
- SOLD
- MLS#
- 2512342
- Closing Date
- May 08, 2026
- Days on Market
- 1
- Style
- 52 - Duplex
- Finished SqFt
- 2,782
- Area Total SqFt
- 2782
- Annual Tax Ammount
- 6787
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 10,650
- Sewer
- Septic Tank
Property Description
Exceptional duplex opportunity offering instant income with secure, long-term tenants already in place. Well cared for by long time owners, each spacious unit features 3 bedrooms, 2.5 bathrooms, and approximately 1,391 sqft with an open concept floor plan, higher end finishes, and excellent curb appeal. Interiors offer warm wood cabinetry, durable flooring, spacious kitchens, large living areas, and private fenced backyards ideal for tenants. This property is built for convenience and strong rental appeal with a two car garage plus abundant additional uncovered parking for tenants and guests. Long-term tenants provide immediate cash flow and added peace of mind for investors seeking stability. Conveniently located near Spanaway Lake, parks, shopping, dining, and within the Bethel School District, with easy access to Joint Base Lewis-McChord, Mountain Highway, and major commuter routes. A turnkey investment with strong tenant history, attractive finishes, and a prime location. This is one you won’t want to miss. ***Great opportunity to purchase both duplexes together! See additional duplex next door listed on the MLS #2512341.
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Additional Information
- List Date
- 2026-05-07 00:00:00
- Community
- Lake Park
- Net Operating Income
- $40,735
- Gross Adjusted Income
- $56,100
- Gross Scheduled Income
- $56,100
- Total Monthly Income
- $4,675
- Insurance Expenses
- $2,145
- Gross Rent Multiplier
- 12.83
- Total Expenses
- $15,364
- Cap Rate
- 5.66
- Total Number of Units
- 2
- Unit Name
- 116 & 118
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 2009
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Fully, Gas Available, High Speed Internet, Patio
- Other Expenses
- 6432
- Energy Source
- Electric, Natural Gas
- School District
- Bethel
- Elementary School
- Spanaway Elem
- Middle School
- Spanaway Jnr High
- High School
- Spanaway Lake High
- Total Monthly Income
- $4,675
- Gross Scheduled Income
- $56,100
- Gross Adjusted Income
- $56,100
- Tax Year
- 2026
- Insurance Expense
- $2,145
- Total Expenses
- $15,364
- Net Operating Income
- $40,735
- Gross Rent Multiplier
- 12.83
- Cap Rate
- 5.66
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.