Bought with ZNonMember-Office-MLS
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Key Details
Sold Price $1,335,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,290 sqft
Price per Sqft $311
Subdivision Sumner
MLS Listing ID 1697241
Sold Date 05/12/21
Style 55 - 5-9 Units
Year Built 1958
Annual Tax Amount $7,171
Lot Size 10,230 Sqft
Property Sub-Type Multi-Family
Property Description
8 unit apartment in fantastic downtown Sumner location. The exterior has been extensively remodeled with new roof, paint, landscaping and windows. The building has undergone a major systems update of new wiring, plumbing and electrical service. 2 of the 8 units have been remodeled with high end finishes with washer and dryer install. There is rental upside in all 8 units if investor chooses not to do additional remodeling work, but there is a major value add opportunity to remodel the 6 remaining units. Current low rent is $925, and the remodeled units are renting starting at $1,300. Rents in Sumner have risen at an annualized rate of 10% throughout 2020.
Location
State WA
County Pierce
Area 74 - Sumner
Interior
Interior Features Forced Air
Fireplace false
Exterior
Exterior Feature Wood
Utilities Available Sewer Connected, Electric
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Sumner-Bonney Lake
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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"Three Trees" icon indicates a listing provided courtesy of NWMLS.