8740 S Hosmer St, Tacoma, WA 98444

$4,500,000
21,600
SqFt

Listing courtesy of Westlake Associates, Inc..

List Price
$4,500,000
Status
ACTIVE
MLS#
1725058
Price Change
▼ $300,000 1614038458
Days on Market
24
Style
56 - 10+ Units
Finished SqFt
21,600
Lot Size (sq ft)
55,334

Property Description

The Azul is a 33-unit apartment community built in 1992. 24 of the units have large 1bd/1ba layouts and the remaining 9 units are efficient studio layouts. The homes feature low maintenance granite counters in the kitchen and new vanities with quartz in the bathrooms. Some of the units include vinyl plank flooring, new lighting, baseboard trim and fresh interior paint. This opportunity offers an investor a healthy in-place cap rate and the new investor can continue upgrading flooring in units as units come available to further achieve rental premiums and value appreciation.

Additional Information

List Date
2021-02-04 00:00:00
Community
Tacoma
Property Type
MULT
Units
33
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1992
Total Parking
68
Uncovered Parking
40
Exterior
Wood Products
Roof
Composition
School District
Tacoma
Total Monthly Income
$41,450
Gross Scheduled Income
$497,400
Vacancy Rate
5
Gross Adjusted Income
$472,530
Annual Taxes
$30,634
Tax Year
2020
Insurance Expense
$8,000
W/S/G Expenses
$50,000
Total Expenses
$179,911
Net Operating Income
$292,619
Gross Rent Multiplier
9
Cap Rate
6

Room Dimensions

Unit 1 Baths
1.00
Unit 1 Size
400
Unit 1 Rent
$950
Unit 2 Baths
1.00
Unit 2 Size
400
Unit 2 Rent
$950
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
750
Unit 3 Rent
$1,150
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
750
Unit 4 Rent
$1,050
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
750
Unit 5 Rent
$1,150
Unit 6 Baths
1.00
Unit 6 Size
400
Unit 6 Rent
$950
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