116 173rd St E - Apartments FOR SALE


Spanaway, WA 98387
$3,200,000 USD
253-315-2347
116 173rd St E, Spanaway, WA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/47
null | 5.5% Cap Rate

116 173rd St E
Spanaway, WA 98387


HIGHLIGHTS

  • Coin Operated Laundry

OVERVIEW

Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units include electrical panels & water tanks. Several units have been upgraded with modern finishes: cabinets, countertops, appliances, trim & flooring. Additional features include, coin-operated laundry facility, 13 individual garage spaces, 5 storage units, rare & valuable amenities. Long-term tenants ensure steady cash flow, with units turning over quickly when they become available. Conveniently located to schools, shopping, JBLM & outdoor recreation, this is a prime opportunity to invest in a well-maintained property with long-term potential.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$370 USD /SF

# OF UNITS

13

PRICE/UNIT

$246,154

CAP RATE

5.5%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Elizabeth I

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

G, Pierce County

APN/PARCEL ID

502500-1461

ASK ABOUT THIS PROPERTY

Matthew 'Cooper' CarlsonJohn L. Scott Real EstateMore Info
253-315-2347

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Matthew 'Cooper' CarlsonJohn L. Scott Real EstateMore Info
253-315-2347

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.