120 136th St S Unit 1-64, Tacoma, WA 98444

$7,900,000
39,435
SqFt

Listing courtesy of Sterling Johnston Real Estate.

List Price
$7,900,000
Status
PENDING
MLS#
1681200
Price Change
▼ $400,000 1607142861
Days on Market
63
Style
56 - 10+ Units
Building Condition
['Good']
Finished SqFt
39,435
Lot Size (sq ft)
97,173

Property Description

64 Units,Garden style,Market CAP Rate 5.6%,Less than $125k per unit with potential income upside up to 18+%,Over the past 5 years rents have increased 16% in Parkland,minutes to PLU & 10 minutes to downtown Tacoma,new roofs with transferable warranties all buildings,new siding on multiple south&west sides of the buildings,dual pane windows,upgraded landscaping & walkways between buildings.on-site office,on-site laundry,dishwashers,oversized closets add interior laundry to increase rents more.

Additional Information

List Date
2020-10-26 00:00:00
Community
Parkland
Property Type
MULT
Units
64
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1969
Total Parking
86
Uncovered Parking
86
View
Territorial
Exterior
Wood
Roof
Flat
Site Features
Cable TV
Lot Details
Corner Lot, Curbs, Paved Street, Sidewalk
School District
Tacoma
Total Monthly Income
$56,164
Gross Scheduled Income
$675,968
Vacancy Rate
5
Gross Adjusted Income
$640,270
Annual Taxes
$61,815
Tax Year
2020
Insurance Expense
$13,223
W/S/G Expenses
$72,176
Total Expenses
$297,425
Net Operating Income
$297,425
Gross Rent Multiplier
12
Cap Rate
4

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
1000
Unit 1 Rent
$1,050
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
585
Unit 2 Rent
$875
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
585
Unit 3 Rent
$675
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
585
Unit 4 Rent
$775
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
585
Unit 5 Rent
$700
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
585
Unit 6 Rent
$800
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