5501-5506-10 Chicago Ave SW

    Lakewood, WA 98499
    • $4,250,000
    • STATUS: Pending Feasibility
    • ON SITE: 187 days
    • ID#: 1218132
    Under Contract
    UPDATED: 69 min ago
    $4,250,000
    • 0
      BEDS
    • 2.49
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 33,697
      SQFT
    • $126
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1968
    County:
    Area:

    School Ratings & Info

    School District:
    Listing Courtesy of Better Properties Eastside.

    Description

    Totals are for both (2) props tgw/parcel 0219114032 across street, must sell together. 5501 has newer ext paint & new roof on 1 bldg. 5506-10 has new ext paint. Many units updated, 49 total units, 36 2BR, almost 75% & only 13 1BR. Good access to amenities, freeways, employment, etc. Well maintained. Owner selling because he's retiring & wants freedom more than income stream. Easy to rent, good CAP rate at current rents but could be raised & still be market rents.

    Monthly Payment Calculator

    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Real Estate Solutions Group - NWRE LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2018-05-20T16:16:07.027.

    www.resg.com/homes/78730355

    5501-5506-10 Chicago Ave SW Lakewood, WA 98499

    • Price: $4,250,000
    • Status: Pending Feasibility
    • Updated: 69 min ago
    • ID#: 1218132
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.49
    Acres
    33,697
    SQFT
    $126
    $/SQFT
    1968
    Built
    Neighborhood:
    Lakewood
    County:
    Pierce
    Area:
    Lakewood
    School District:
    Clover Park
    Property Description
    Totals are for both (2) props tgw/parcel 0219114032 across street, must sell together. 5501 has newer ext paint & new roof on 1 bldg. 5506-10 has new ext paint. Many units updated, 49 total units, 36 2BR, almost 75% & only 13 1BR. Good access to amenities, freeways, employment, etc. Well maintained. Owner selling because he's retiring & wants freedom more than income stream. Easy to rent, good CAP rate at current rents but could be raised & still be market rents.
    Exterior Features

    Building Condition Good Carport Spaces 0 Exterior WoodWood Products Garage Spaces 0 Lot Details Dead End StreetPaved Street Roof CompositionTorch Down Stories In Building 2 Style 56 - 6-9 Units Total Parking Spaces 90 Uncovered Spaces 90

    Interior Features

    Floor Covering VinylWall to Wall Carpet Heating And Cooling BaseboardForced Air Unit1 Bathrooms 13.00 Unit1 Bedrooms 13 Unit1 Dishwasher N Unit1 Fireplaces 0 Unit1 Range Oven Y Unit1 Refrigerator Y Unit1 Sq Ft 600 Unit1 Washer Dryer N Unit2 Bathrooms 36.00 Unit2 Bedrooms 72 Unit2 Dishwasher Y Unit2 Fireplaces 0 Unit2 Range Oven Y Unit2 Refrigerator Y Unit2 Sq Ft 700 Unit2 Washer Dryer N Unit3 Bathrooms 0.00 Unit3 Bedrooms 0 Unit3 Fireplaces 0 Unit3 Sq Ft 0 Unit4 Bathrooms 0.00 Unit4 Bedrooms 0 Unit4 Fireplaces 0 Unit4 Sq Ft 0 Unit5 Bathrooms 0.00 Unit5 Bedrooms 0 Unit5 Fireplaces 0 Unit5 Sq Ft 0 Unit6 Bathrooms 0.00 Unit6 Bedrooms 0 Unit6 Fireplaces 0 Unit6 Sq Ft 0 Units Below Grade N

    Property Features

    Amenities Coin Op LaundryPlaygroundThermal Windows Bank Owned No Cap Rate 6.46 Electrical Expenses 1445 Energy Source Electric EPSEnergy 0 Form17 Provided General Zoning Classification Multi-Family Gross Adjusted Income 483363 Gross Rent Multiplier 9 Gross Scheduled Income 498240 Heating Expenses 0 Hers Index 0 Home Owner Dues 0 Insurance Expenses 10876 Leased Items Washer/Dryer Net Operating Income 290893 New Construction YN No Other Expenses 88561 Possession ClosingSub. Tenant's Rights Power Company Lakeview Light Right Of First Refusal No Septic Approved For Number Of Bedrooms 0 Sewer Sewer Connected Sewer Company Pierce County Sewer Site Features DeckFenced-PartiallyPatio Tax Amount 35275 Tax Year 2017 Terms Cash OutConventional Third Party Approval Required None Total Expenses EXP 192670 Total Expenses TEX 192670 Total Monthly Income 40680 Unit1 Monthly Rent 738 Unit2 Monthly Rent 868 Unit3 Monthly Rent 0 Unit4 Monthly Rent 0 Unit5 Monthly Rent 0 Unit6 Monthly Rent 0 Vacancy Rate 5 Water Company Lakewood Water Water Sewer Garbage 50513 Water Source Public

    Listing information © 2018 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Real Estate Solutions Group - NWRE LLC and should be verified by the buyer.
    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Real Estate Solutions Group - NWRE LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2018-05-20T16:16:07.027.

     
    Real Estate Solutions Group - NWRE LLC
    1027 State Ave, Suite 102
    Marysville WA, 98270
    Listing Courtesy of Better Properties Eastside.