Listing ID: 1690851
Sold For: $315,000
Status: Closed
Address: 9823 North Gate Road SW
City: Lakewood
State: Washington
Postal Code: 98498
SqFt: 1,092
Acres: 0.270
County: Pierce
Lakewood
WA
98498
The Lakewood Duplex presents the opportunity to acquire a secured access duplex with
substantial upside, strategically located in Lakewood’s gentrifying Lake City micro-market. Investors have a tremendous
opportunity to increase revenue and value by improving operations and continuing an interior
renovation program.
The current ownership group updated interiors with laminate flooring, laminate countertops, and
stainless-steel appliances in 2019. In addition, a new roof was installed in 2019. Built in 1942, the
property consists of two two-bedroom, one-bathroom units measuring 547 square feet in size.
Primary Features
County:
Pierce
Property Sub Type:
Multi-Family
Property Type:
Residential Income
Subdivision:
Lakewood
Year Built:
1942
Interior
Building Area Units:
Square Feet
Flooring:
Laminate
Furnished:
Unfurnished
Heating Cooling Type:
Baseboard
Living Area Units:
Square Feet
Stories Total:
1
External
Elevation Units:
Feet
Exterior Features:
Wood
Foundation Details:
Slab
Lot Size Dimensions:
11761
Lot Size Square Feet:
11761
Lot Size Units:
Square Feet
MLS Lot Size Source:
Pierce County Assessor
Number Of Units Total:
2
Open Parking Spaces:
4
Parking Total:
4
Parking Uncovered Spaces:
4
Roof:
Composition
Sewer:
Sewer Connected
Structure Type:
Duplex
Style Code:
52 - Duplex
Units Below Grade:
false
Units In Building Total:
2
Utilities:
Sewer Connected, Electricity Available
Water Sewer Garbage:
210
Location
Building Area Total:
1092
Country:
US
High School District:
Lakewood
MLS Area Major:
36 - Lakewood
Waterfront:
no
Zoning Class:
Multi-Family
Additional
First Right Of Refusal:
no
Mls Status:
Sold
Offers:
Seller intends to review offers upon receipt
Possible Use:
Multi-Family
Power Production Type:
Electric
Preliminary Title Ordered:
yes
Show Map Link:
yes
Financial
Association Fee Frequency:
Annually
Buyer Financing:
Cash
Cap Rate:
5.5
Gross Adjusted Income:
24000
Gross Rent Multiplier:
13
Gross Scheduled Income:
24000
Insurance Expense:
1053
Leasable Area:
1092
Leasable Area Units:
Square Feet
Leased Items:
Washer/Dryer
Net Operating Income:
17358
Possession:
Closing
Sale Type:
MLS
Seller Disclosure:
Provided
Special Listing Conditions:
None
Tax Annual Amount:
2779
Tax Year:
2020
Total Expenses:
5442
Total Monthly Income:
2450
Zoning Info
Area Info
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