Bought with Westlake Associates, Inc.
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Key Details
Sold Price $870,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,464 sqft
Price per Sqft $251
Subdivision Black Lake
MLS Listing ID 1955386
Sold Date 09/15/22
Style 55 - 5-9 Units
Year Built 1952
Annual Tax Amount $6,340
Lot Size 0.759 Acres
Property Description
Great cash flowing investment opportunity with upside potential. Located near Black Lake this property sits on a quiet street, yet is minutes to Tumwater and West Olympia. All 5 unit have been well maintained and professionally managed for many years. Large .75+/- acre property with individual patios and plenty of both front and back yard space. Ample parking and great privacy for all units. Nice open floor plans for both the home and four plex units. Updated windows and roofing on both buildings. Currently a 5.9% cap rate with a pro forma cap rate of 7.7% based on market rents. Come take advantage of this great investment opportunity.
Location
State WA
County Thurston
Area 443 - Tumwater
Interior
Interior Features Forced Air, Wall to Wall Carpet
Flooring Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Wood
Utilities Available Cable Connected, Septic System, Electric, Individual Well
Amenities Available Cable TV, Fenced-Partially, Patio
View Y/N Yes
View Territorial
Roof Type Composition
Building
Lot Description Open Space, Paved
Sewer Septic Tank
Water Individual Well
New Construction No
Schools
School District Tumwater
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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