8740 S Hosmer Street, Tacoma, WA 98444
- $4,500,000
- 21,600
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: Kaiser Management LLC.
- Sold Price
- $4,500,000
- List Price
- $4,500,000
- Status
- SOLD
- MLS#
- 1725058
- Closing Date
- Apr 16, 2021
- Days on Market
- 39
- Style
- 56 - 10+ Units
- Finished SqFt
- 21,600
- Area Total SqFt
- 21600
- Annual Tax Ammount
- 30634
- Lot Size (sq ft)
- 55,334
- Sewer
- Available
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.
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Additional Information
- List Date
- 2021-03-08 00:00:00
- Community
- Tacoma
- Net Operating Income
- $292,619
- Gross Adjusted Income
- $472,530
- Gross Scheduled Income
- $497,400
- Total Monthly Income
- $41,450
- Insurance Expenses
- $8,000
- Water/Sewer/Garbage Expenses
- $50,000
- Gross Rent Multiplier
- 9
- Total Expenses
- $179,911
- Cap Rate
- 6.5
- Vacancy Rate
- 5
- Total Number of Units
- 32
- Unit Name
- 8740
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1992
- Roof
- Composition
- Other Expenses
- 67650
- Energy Source
- Electric
- School District
- Tacoma
- Total Monthly Income
- $41,450
- Gross Scheduled Income
- $497,400
- Vacancy Rate
- 5
- Gross Adjusted Income
- $472,530
- 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
- 6.5
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