15817 64 St E

    Sumner, WA 98390
    • $6,800,000
    • STATUS: Pending
    • ON SITE: 146 days
    • ID#: 1351244
    Under Contract
    UPDATED: 66 min ago
    $6,800,000
    • 0
      BEDS
    • 4.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 36,864
      SQFT
    • $184
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1973
    County:
    Area:

    School Ratings & Info

    School District:
    Listing Courtesy of Westlake Associates, Inc..

    Description

    Built in 1973, the Aria Apartments is a 40-unit value add opportunity with a 6% in place cap rate. Currently, 10 units have been renovated yielding a 25% increase in rent. The units have updated kitchens, SS appliances, new mill work package, new paint and new flooring. The building consists 28 two beds and 12 one beds all single-story garden style and in unit W/D. Preliminary plans to add 7 units to the property for additional upside. Next door to the brand-new Gordon Family YMCA.

    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 Kimberly Gartland Group - Keller Williams Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-01-18T12:15:34.277.

    www.kimberlygartlandgroup.com/homes/86859486

    15817 64 St E Sumner, WA 98390

    • Price: $6,800,000
    • Status: Pending
    • Updated: 66 min ago
    • ID#: 1351244
    0
    Beds
    0
    Baths
    0
    ½ Baths
    4.3
    Acres
    36,864
    SQFT
    $184
    $/SQFT
    1973
    Built
    Neighborhood:
    Sumner
    County:
    Pierce
    Area:
    Sumner
    School District:
    Sumner
    Property Description
    Built in 1973, the Aria Apartments is a 40-unit value add opportunity with a 6% in place cap rate. Currently, 10 units have been renovated yielding a 25% increase in rent. The units have updated kitchens, SS appliances, new mill work package, new paint and new flooring. The building consists 28 two beds and 12 one beds all single-story garden style and in unit W/D. Preliminary plans to add 7 units to the property for additional upside. Next door to the brand-new Gordon Family YMCA.
    Exterior Features

    Carport Spaces 0 Exterior Wood Garage Spaces 0 Roof Composition Stories In Building 1 Style 56 - 6-9 Units Total Parking Spaces 64 Uncovered Spaces 64

    Interior Features

    Heating And Cooling BaseboardWall Unit1 Bathrooms 1.00 Unit1 Bedrooms 2 Unit1 Fireplaces 0 Unit1 Sq Ft 830 Unit2 Bathrooms 1.00 Unit2 Bedrooms 2 Unit2 Fireplaces 0 Unit2 Sq Ft 830 Unit3 Bathrooms 1.00 Unit3 Bedrooms 2 Unit3 Fireplaces 0 Unit3 Sq Ft 830 Unit4 Bathrooms 1.00 Unit4 Bedrooms 1 Unit4 Fireplaces 0 Unit4 Sq Ft 630 Unit5 Bathrooms 1.00 Unit5 Bedrooms 2 Unit5 Fireplaces 0 Unit5 Sq Ft 830 Unit6 Bathrooms 1.00 Unit6 Bedrooms 2 Unit6 Fireplaces 0 Unit6 Sq Ft 830 Units Below Grade N

    Property Features

    Bank Owned No Cap Rate 5.97 Electrical Expenses 0 Energy Source Electric EPSEnergy 0 Form17 Provided Gross Adjusted Income 623534 Gross Rent Multiplier 11 Gross Scheduled Income 656184 Heating Expenses 0 Hers Index 0 Home Owner Dues 0 Insurance Expenses 9649 Leased Items None Net Operating Income 417994 New Construction YN No Other Expenses 9134 Possession Closing Septic Approved For Number Of Bedrooms 0 Sewer Sewer Connected Tax Amount 44664 Tax Year 2018 Terms Cash Out Third Party Approval Required None Total Expenses EXP 205540 Total Expenses TEX 205540 Total Monthly Income 54682 Unit1 Monthly Rent 1175 Unit2 Monthly Rent 1175 Unit3 Monthly Rent 1175 Unit4 Monthly Rent 1195 Unit5 Monthly Rent 1195 Unit6 Monthly Rent 1175 Vacancy Rate 5 Water Sewer Garbage 59886

    Listing information © 2019 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 Kimberly Gartland Group - Keller Williams Realty 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 Kimberly Gartland Group - Keller Williams Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-01-18T12:15:34.277.

     
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