Listing ID: 1691261
Sold For: $3,447,300
Status: Closed
Address: 322 9th Avenue SE
City: Puyallup
State: Washington
Postal Code: 98372
SqFt: 16,210
Acres: 0.937
County: Pierce
Puyallup
WA
98372
The Fairview Apartments provides the opportunity for an investor to walk into ownership with a turn key asset, or push rents without any further renovations. The property is ideally located a few blocks from the Washington State Fairgrounds & Events Center, Good Samaritan Hospital, and Highway 512, which provides tenants with immediate access to Seattle, Kent, Tacoma and Sumner Valley.
Primary Features
County:
Pierce
Property Sub Type:
Multi-Family
Property Type:
Residential Income
Subdivision:
Puyallup
Year Built:
1977
Interior
Building Area Units:
Square Feet
Furnished:
Unfurnished
Heating Cooling Type:
Forced Air
Living Area Units:
Square Feet
Stories Total:
2
External
Carport Spaces:
8
Elevation Units:
Feet
Exterior Features:
Wood
Lot Size Square Feet:
40803
Lot Size Units:
Square Feet
MLS Lot Size Source:
Pierce County Assessor
Number Of Units Total:
18
Open Parking Spaces:
20
Parking Total:
28
Parking Uncovered Spaces:
20
Roof:
Composition
Sewer:
Sewer Connected
Structure Type:
Multi Family
Style Code:
56 - 10+ Units
Units Below Grade:
false
Units In Building Total:
18
Utilities:
Sewer Connected, Electricity Available
Water Sewer Garbage:
20992
Location
Building Area Total:
16210
Country:
US
High School District:
Puyallup
MLS Area Major:
83 - Puyallup
Waterfront:
no
Zoning Class:
Multi-Family
Zoning Jurisdiction:
City
Additional
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
Buyer Financing:
Cash
Cap Rate:
5.23
Gross Adjusted Income:
275971
Gross Rent Multiplier:
12
Gross Scheduled Income:
290496
Insurance Expense:
6189
Leasable Area:
16210
Leasable Area Units:
Square Feet
Leased Items:
None
Net Operating Income:
177722
Other Expense:
42526
Possession:
Closing
Sale Type:
MLS
Seller Disclosure:
Not Provided
Special Listing Conditions:
None
Tax Annual Amount:
28543
Tax Year:
2020
Total Expenses:
98250
Total Monthly Income:
24208
Vacancy Rate:
5
Zoning Info
Area Info
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