417 Garfield Street S, Tacoma, WA 98444

$4,950,000
24,220
SqFt

Listing courtesy of Savvy Lane Inc.

List Price
$4,950,000
Status
PENDING INSPECTION
MLS#
1939077
Days on Market
41
Style
56 - 10+ Units
Finished SqFt
24,220
Area Total SqFt
24220
Lot Size (sq ft)
20,000

Property Description

For sale is a portfolio offering of mixed-use apartments and retail assets one block from PLU. Offering includes a mixed-use building consisting of 23 multi-family units and 12 retail units, a three tenant retail building, and 0.44 acres of vacant commercial land. All multifamily units and retail units are 100% occupied. This investment is a value-add opportunity with an estimated 64% upside in rents across the multi-family units, as well as re-purposing the vacant land as an income source or development. Zoned Towne Center, the land is used as a parking amenity for tenants and could provide additional income to the buyer or be developed into multifamily or commercial uses (buyer to verify). Properties must be sold together.

Additional Information

List Date
2022-05-25 18:22:09
Community
Parkland
Potential Terms
Cash Out, Conventional
Year Built
1948
Roof
Flat
Heating/Cooling Type
Baseboard
Other Expenses
69351
Energy Source
Electric
School District
Franklin Pierce
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$30,610
Gross Scheduled Income
$338,488
Gross Adjusted Income
$338,488
Tax Year
2022
Insurance Expense
$7,899
W/S/G Expenses
$54,245
Total Expenses
$160,096
Net Operating Income
$207,405
Gross Rent Multiplier
14.6
Cap Rate
4.19
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